Colt telecom connects more than 12 traders to Bats


Colt telecom connects more than 12 traders to Bats

Karl Flinders

Colt Telecom has connected over a dozen trading firms to Bats since the multilateral trading facility (MTF), was launched in the UK.

Colt offers high-speed Ethernet connections to share trading venues to enable traders to reduce the time it takes to complete trades, which is an advantage.

Bats, which was launched in October, is one of the new breed of trading venues which have arrived in Europe since the introduction of the Markets in Financial instruments Directive (MiFID).

Bats claims to be able to process trades in under a millisecond. This compares to the London Stock Exchanges three millisecond capability.

The high-speed connection from outside will enable traders to take advantage of this speed.

According to a survey carried out by Colt Telecom, 90% of IT professionals in the finance sector expect to invest in cutting the time to complete a trade.

"As we continue to grow, we will remain aggressive in our push to connect to key players in Europe, following our mission of Making Markets Better," said BATS Europe CEO Mark Hemsley.

Colt also connects to Bats competitor Turquoise.

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