Level 3 Communications, Inc. (NASDAQ: LVLT) today announced the availability of direct connectivity into global financial markets technology company BATS Europe, operator of a European Multilateral Trading Facility (MTF). This will give Level 3’s European financial services customers access to Level 3’s international Tier 1 backbone and low-latency trading execution from Europe to North America.
The new offering includes options for metro and inter-city connectivity as well as direct connection to Level 3’s low-latency, trans-Atlantic routes with diverse landing stations to better facilitate security and business continuity.
BATS Europe, launched on the 31 October 2008, is one of the leading pan-European 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.
“The tremendous growth of BATS Europe is a result of our forward-thinking approach to technology and understanding of the importance of fast, reliable global connectivity,” said Paul O’Donnell, chief operating officer at BATS Europe. “We’re committed to providing communications access solutions to market participants that meet the rigorous demands of the financial trading industry. We’re pleased to include Level 3 among the providers from which our participants may choose to connect to BATS Europe.”
Level 3 offers a number of customizable solutions for the financial industry, as well as low-latency network services to select trading venues throughout Europe and North America, including 15 financial exchanges, 14 electronic communications networks and seven market data centers.
With approximately 54,000 long-haul fibre miles and 27,000 metro fibre miles spanning 190 markets in 22 countries, Level 3 operates one of the most extensive and diverse network footprints in the market. As a result, Level 3 offers multiple low-latency options on a number of routes.
“At Level 3, we understand that when it comes to financial transactions, fractions of a second matter, and we’ve designed our services for this industry to meet the needs of the most sophisticated and demanding of customers,” said James Heard, president of European Markets at Level 3. “BATS Europe’s participants will now have access to solutions that nine of the top ten commercial banks rely on every day, including low-latency trading, highly scalable high-speed connections and secure transport of financial data that complies with major industry standards.”
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