Trading communications provider IPC Systems has extended its global financial network with connectivity to pan-Asian trading venue Chi-East, which recently completed the rollout of its non-displayed trading platform for securities listed in Hong Kong, Japan and Singapore.
Launched in November 2010, Chi-East is a joint venture between the Singapore Exchange (SGX) and alternative trading platform provider Chi-X Global. Users of Chi-East are able to trade all shares listed on SGX and the main board of the Hong Kong Stock Exchange, the component stocks of Japan's TOPIX 100 index and a range of exchange-traded funds across the three markets.
Chi-East had originally intended to offer Australian stocks, as well as those Hong Kong, Singapore and Japan, in November 2010, but haced faced delays following the Australian Securities Exchange's withdrawal of its market data feed to the platform. Chi-East has said it hopes to connect to Australia later this year.
IPC's global financial network connects the world's major financial centres, linking 200 cities in 77 countries across six continents, and providing market participants with high-speed connectivity to support all aspects of the trade lifecycle.
“As Asia's first independent liquidity aggregator, we're leading the way in introducing innovative trading platforms to the region, and being part of IPC's global financial network will help in broadening global access to our deep liquidity opportunities,” said Ned Phillips, CEO, Chi-East.
David Dodd, senior vice president and managing director, IPC Systems, commented that his firm had invested significantly across the Asia Pacific region in the last 12 months, completing the firm's pan-Asian optical network, opening regional offices, and adding key destinations to the network.
IPC Systems recently connected to Hong Kong Exchanges and Clearing and Japanese derivatives venue the Tokyo Financial Exchange in March 2011. The firm also forged a link to the Korea Exchange in February.