Australia’s financial and energy exchange chooses BT as cloud connectivity provider
BT Radianz Cloud offers a new route to trade on Australian based Pan Asian Exchange
BT today announced that Australia’s Financial and Energy Exchange Group Ltd (FEX) has chosen the BT Radianz Cloud to provide a new and flexible way for global market participants to access its exchange.
By joining the BT Radianz Cloud community – the world’s largest secure networked financial community - FEX will be able to offer easier access to the rapidly developing Asian energy and commodity markets, linking local growth with global demand.
The deal reflects the desire to increase Australia’s presence as a financial centre in the Asian region, following the introduction of new government regulations in March 2010. The rules are designed to make financial markets more innovative and efficient, supporting the development of Australia as a leading financial centre and providing a platform to attract new venues such as FEX.
Thomas Price, CEO of FEX, said: “Our service providers need to be able to offer us capabilities that are compliant, efficient, secure and fast. BT leads the way in providing financial services cloud connectivity. They help us extend our global reach and gain greater access to the community that we need to attract new clients and grow our business.”
Tom Regent, president, global banking & financial markets, BT, said: “The global nature of the exchange sector and the need to work quickly, securely and compliantly across multiple time zones means that there is a growing value in exchanges – and their customers – connecting in a single community. BT´s depth and breadth in the exchange community mean that over 70 per cent of equity trades are conducted on exchanges connected to the BT Radianz Cloud . This puts us in a unique position in terms of the expertise we provide to our exchange clients.”
FEX is the latest in a series of exchanges that have recently joined the BT Radianz community.
Notes to editors:
About the Financial and Energy Exchange Group Ltd
The business aim of the FEX Group is to offer globally competitive licensed marketplaces for both derivative and equity products with a particular focus on the development and listing of tradable products within the commodity, energy and environmental asset classes. FEX Group markets seek to provide market participants and users in the Asian-Pacific region greater product relevance to enhance both the management of risk and the facilitation of investment in the region.
Confidence in the licensed markets owned directly or indirectly by FEX Group is reinforced by the market supervision and regulatory role undertaken by the Australian Securities and Investments Commission (ASIC) as well as through the Reserve Bank of Australia's oversight of financial system stability. In addition ASIC also supervises FEX Group as an unlisted public company.
About BT Radianz services
Designed and built to meet the requirements of the global financial community, BT Radianz sets the standard for speed and reliability. Supporting the world's largest secure networked financial community, the BT Radianz Cloud consists of over 15,000 member locations accessing over 400 service providers. It is designed specifically to meet the needs of the financial community and offers a fully-managed private community cloud solution with fast, secure and reliable connectivity. Users can consolidate all of their external connectivity onto a single, resilient connection, saving money, time, space, equipment, maintenance and management.
A recent Yankee Group report found that moving to a managed network environment such as the BT Radianz Cloud can help users to achieve year-on-year savings in total cost of ownership of communications of over 50%.
For further information on BT’s services for the financial community, visit www.bt.com/gbfm.