LONDON, United Kingdom – 22 October 2013: AlgoSpan, the specialist market access infrastructure provider, has announced that Aquis Exchange, the proposed pan-European equities trading exchange*, has selected AlgoData™ market data services to supply it with low latency real-time reference prices from European exchanges.

AlgoSpan will provide Aquis Exchange with access to market data feeds directly from the primary stock exchanges in the 14 European locations covered by the firm. Alasdair Haynes, CEO of Aquis Exchange, said: “Market data feeds are a critical part of our business. We made the decision to partner with AlgoSpan because of the quality of their product and the level of service they offer.”

Robert Bicket, CEO of AlgoSpan comments:  “We are delighted to be working with Aquis Exchange, providing highest quality low latency market data to satisfy their demanding needs. Combined with our extranet service, Aquis Exchange Members can be assured that the infrastructure is in place for those for whom speed of execution is critical”.

AlgoSpan provides ultra low latency market data feeds for latency sensitive trading firms. The technology combines its proprietary ‘shortest path’ optical fibre infrastructure, AlgoNet™, with its in-house developed RadioFeed™ binary protocol feed-handlers, providing sub-millisecond access to raw and normalised feeds.

Aquis Exchange has been created to operate a pan-European equities trading exchange and develop exchange software. It is set to revolutionise the European trading landscape by its introduction of subscription pricing and innovative order types. The aim of Aquis Exchange is to bring fresh competition into the marketplace in order to lower trading costs.

This news follows an earlier announcement that Aquis Exchange has added AlgoSpan’s AlgoNet network as an extranet supplier and that prospective participants are now being on-boarded. AlgoNet’s infrastructure services are designed to increase the speed of market data delivery and reduce order execution latency.

About AlgoSpan

AlgoSpan provides end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies – proven to bring direct improvements to bottom-line trading performance. AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData).

About Aquis Exchange

Aquis Exchange, which has applied for regulatory approval as a multilateral trading facility from the UK FCA, was established in October 2012 and has been created to operate a pan-European equities trading exchange and develop exchange software. Aquis Exchange is set to revolutionize the European trading landscape by its introduction of subscription pricing and innovative order types. Currently, over 90% of European equity trading in each individual country takes place on two exchanges. The aim of Aquis Exchange is to bring fresh competition into the marketplace in order to lower the trading costs maintained by the existing duopoly. 

Aquis Exchange’s subscription pricing works on a similar model to that of the telecoms industry and is designed to encourage participation from all categories of professional trading firm. Users will be charged according to the message traffic they generate, rather than a percentage of the value of each stock that they trade. There will be different pricing bands to accommodate varying degrees of activity. There will be a very low usage band for small firms that are traditionally disadvantaged by the pricing structure of the incumbent exchanges and, at the other end of the pricing structure, will be the top category where usage is unlimited (subject to a “fair usage” policy).