Ften Divulges Plans to Establish European Offices and Expansion of Coverage Beyond Equities
At 12 Jun 2008 14:27:22 in SIFMA TMC, SIFMA TMC News & Views, STN3-From the Exhibit Floor
Low latency trading solution vendor Ften has released plans to establish three new offices in Europe to expand its geographic footprint. The vendor is also looking at expanding its instrument coverage beyond equities to futures and options.
The new offices will be live by September this year and they will be situated in key financial centres including London and Frankfurt, says Mark Fields, director of business development at Ften.
The vendor will be also expanding its instrument coverage, which is currently limited to equities, to options this month and to futures by September.
“We do not have a direct competitor in the market and 20 per cent of the US equities order flows pass through us, which is proof of our success,” says Fields. He reckons that by expanding into Europe the firm will be able to offer a valuable service that is lacking in the global marketplace.
“Our customers have been asking us to expand our global coverage and our instrument coverage and these plans are part of our attempt to meet those requests,” he explains.