In an attempt to introduce different approaches to trading and promote competition, three new US equities exchanges are preparing to go live this autumn, and Transaction Network Services (TNS) will be supporting all three with live connections to both primary and disaster recovery (DR) locations. MIAX PEARL Equities, The Long-Term Stock Exchange (LTSE) and Members Exchange (MEMX) will all be available to TNS customers upon their various launch dates this autumn.
“We’re excited to offer access to these new exchanges,” says Jeff Mezger, TNS’ Director of Product Management, Financial Markets. “TNS offers access to all US equities exchanges and, as part of our ongoing commitment to our customers, we want to ensure this remains the case as new exchanges launch.”
MIAX PEARL Equities, which launched on 25 September, is one of three options exchanges run by Miami International Holdings Inc. (MIH). MIH has partnered with several industry-leading liquidity providers and market makers and plans to launch into the cash equities space where MIAX PEARL Equities will compete on price.
The Long-Term Stock Exchange (LTSE) aims to offer a simple market model that will appeal to long term investors. While the LTSE had planned to go live earlier this year, the Covid-19 pandemic significantly delayed the launch but it finally began trading on 9 September.
Members Exchange (MEMX) is a new equities exchange owned entirely by its founding members and plans to lower exchange trading fees by leveraging modern technologies. “MEMX has designed their platform using the latest technologies which are intended to reduce performance degradation especially when handling heavy traffic and which consequently could also lead to large market data volumes,” adds Mezger. “TNS’s network, which uses dark fibre connectivity, supports bursts of up to 40 gigabits and delivers high-speed access to market data and superior capacity bandwidth.”
This expansion into these new equity exchanges is another example of TNS’ commitment to providing industry-leading connectivity, market data and support. Combined with the expansion of its Layer 1 architecture in the US and EMEA and the upgrade of its European backbone, TNS continues to be at the forefront of delivering high performance managed solutions for the trading industry.
