Yipes Enterprise Services, a provider of managed, end-to-end ethernet solutions for enterprise customers, today announced an agreement to offer market data access and trading capabilities through the Yipes FinancialConnect! platform, making the Yipes network the first ethernet-based extranet used by the exchange.
“As NASDAQ continues to leverage its established technological strengths and trading efficiency, we are pleased to collaborate with Yipes to support our growth,” says Randall Hopkins, vice president, NASDAQ market data. “As markets continue to measure trades in ever smaller, more precise increments, the ability of platforms to reliably handle large amounts of data becomes more critical than ever,” he adds.
The agreement represents a major step forward in the development of Yipes FinancialConnect! and validates ethernet as the next-generation network of choice for electronic trading, the firm says. The dramatic rise in electronic trading volume continues to be an important issue for exchanges at all levels, making trading technology and connectivity innovation increasingly important operational considerations.
“From its inception, NASDAQ has been a pioneer in leveraging technology to make trading more efficient and effective at every level,” notes John Panzica, general manager, financial services, Yipes. “The selection of Yipes Financial Connect! as NASDAQ’s first ever ethernet-based extranet will bring the strengths of our platform to their member firms,” he continues.
In concert with the launch of Yipes FinancialConnect! last month, Yipes also announced an agreement with the IntercontinentalExchange, the first exchange to offer extranet connectivity via the Yipes network. Yipes expects to announce additional exchange agreements over the coming months.