AboveNet Provides Financial Markets Access to BATS Europe and Chi-X Europe, the largest Pan-European Equities Trading Platform
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 12 April 2012
Release date- 11042012 - WHITE PLAINS, N.Y., and LONDON - AboveNet, Inc. (NYSE:ABVT), a leading provider of high bandwidth connectivity solutions, today announced its low latency fibre optic network will provide access to the BATS Europe and Chi-X Europe trading platform.
BATS Europe and Chi-X Europe account for more than 20% market share of overall European equities trading, making it the largest pan-European trading venue by value traded.
By utilising AboveNet's high performance network, BATS Europe and Chi-X Europe trading participants will benefit from connectivity to all key financial districts in London via the shortest, secure paths.
'AboveNet has a well established expertise in providing the financial sector in the U.S. and U.K with secure, fast, Ethernet networks,' said Brett Johnson, vice president, Business Development for AboveNet Europe. 'We have the diverse international routes in place, and we are looking forward to working with BATS Europe and Chi-X Europe trading participants to meet their high-bandwidth connectivity needs.'
AboveNet is dedicated to delivering an industry-leading, efficient network platform for the financial communities. Specifically, AboveNet FinanceNet addresses this demand for connectivity between major financial districts, reaching the key trading venues and financial exchanges. Services are delivered over a secure, scalable fibre optic platform.
BATS and Chi-X Chief Operating Officer Paul O'Donnell commented, 'In today's financial markets ultra-low latency network performance is a prerequisite rather than a competitive advantage. We aim to provide our trading participants with connectivity choice and are pleased to include AboveNet as one of our connectivity partners.'
BATS Global Markets (BATS), a global operator of stock and options markets, completed the acquisition of Chi-X Europe on 30th November 2011. The migration of the Chi-X Europe trading platform to BATS technology is scheduled for completion on 30th April 2012. More information about the BATS Chi-X Europe technology integration is available at www.batstrading.co.uk/integration.
About AboveNet, Inc.
AboveNet, Inc. provides high bandwidth connectivity solutions for business and carriers. Its private optical network delivers key network and IP services in and among top U.S. and European markets. AboveNet's network is widely used in demanding markets such as financial services, media, health care, retail and government.
BATS Global Markets (BATS) is a leading operator of stock and options markets around the globe. BATS operates two stock exchanges in the U.S., the BATS BZX Exchange and BYX Exchange; BATS Options, a U.S. equity options market; and BATS Europe and Chi-X Europe, which operate FSA-authorized multilateral trading facilities. BATS' innovative and proprietary technology was developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. The company is headquartered in the Kansas City, Mo., area with additional offices in New York and London. For more information, visit www.batsglobalmarkets.com
Statements made in this press release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. We cannot assure you that the future results expressed or implied by the forward-looking statements will be achieved. Such statements are based on the current expectations and beliefs of the management of AboveNet, Inc. and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, industry competition, pricing and macro-economic conditions and the Company's financial and operating prospects. The Company's business could be materially adversely affected and the trading price of the Company's common stock could decline if these risks and uncertainties develop into actual events. The Company cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. A more detailed discussion of factors that may affect the Company's business and future financial results is included in the Company's SEC filings, including, but not limited to, those described in 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and in the Company's subsequently filed Quarterly Report(s) on Form 10-Q.
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