If you're one of Level 3's (Nasdaq: LVLT) European financial customers that needs low-latency network trading connectivity into North America you're in luck as the wholesale provider has established director connectivity into BATS Europe, the operator of a European Multilateral Trading Facility (MTF).
Any of Level 3's financial service customers will be able to now access its backbone network to achieve low-latency trading between Europe and North America. Customers will be able to get both metro and inter-city connectivity in addition to direct connections to Level 3's low-latency, trans-Atlantic routes that include diverse landing stations.
Since being launched in October 2008, BATS Europe has made quite the impression in the pan-European financial markets with market share of 8-10 percent in the FTSE 100, 7 percent of the SMI and 5-6 percent across the 15 European markets in which it operates.
Level 3's pact with BATS Europe follows the debut of its U.S. domestic and European-based low latency network offerings.
Given the increasing competitive drive by financial trading companies to enhance the speed of their trading capabilities, there has been a land rush of incumbent (Verizon) and even competitive providers (Intellifiber, Level 3, Optimum Lightpath, RCN Metro and XO Communications) launching some low-latency service targeted at financial firms.
- see the release here
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