Tuesday June 26, 7:01 am Eastern Time
Javelin Technologies Inc. and Computer Tools & Services b.v.
Javelin Technologies, Inc. and CT&S b.v. Offer Direct Connectivity to Euronext
NEW YORK, June 26 /PRNewswire/ -- Javelin Technologies Inc. and Computer
Tools & Services b.v. announced today that non-member firms now have direct,
electronic access to Euronext, Europe's second largest exchange. Using
Javelin's FIX engine technology as their front-end, Netherlands-based CT&S, a
global facilities provider, created the technology and the network that lets
any firm using standard FIX version 4.2 link to Euronext.
With this open infrastructure in place, non-member firms worldwide (banks,
brokerages and/or institutions, not members of Euronext) can connect directly
and electronically to Euronext's trading system. Javelin's FIX solution is an
integral part of the Client's front end and Euronext, with trades and
real-time market data communicated via satellite and Internet technology.
Euronext is the result of the last year's merger of the stock exchanges of
Amsterdam, Brussels and Paris. They have combined their trading systems into
one trading system for the cash market, and one for the derivative market.
Being the second largest Exchange in market capitalization, Euronext hosts the
trading of close to 50% of the biggest European companies. Their challenge is
to grow to become the liquidity pool for financial trading in Europe.
``Trade connectivity and open standards are the linchpins for both STP and
global trading,'' said George Kledaras, Chairman and CEO of Javelin
Technologies, Inc. ``Working with CT&S and Euronext has been a real look into
the future of trading and we hope this will be an industry model moving
Partnering with two European Bank for Clearing & Settlement, CT&S provides
the network for order routing and real-time price feed distribution that
directly connects to the Trading engines of Euronext. The satellite network,
operated by Hughes Network Systems and Internet communication technology,
offers high bandwidth access at minimal cost as an excellent alternative to
existing methods like leased lines.
``Wherever you are within the footprint of a satellite and/or access to
Internet, we are, on the one hand, the link with the through FIX 4.2 standard,
and on the other, the direct access into European Exchanges for order routing
AND market data distribution,'' said Cees Krijnen, President and CEO of CT&S
b.v. ``Together with the technology building blocks that exist today and our
banking partners, we provide non-member financial professionals a complete
package for direct access to Euronext at a fraction of the current cost. We
hope to add the German Xetra and the British LSE to our Exchange connectivity
Javelin Technologies, Inc.
Javelin Technologies, Inc., based in New York City, with offices in San
Francisco, London and the Philippines, is the leading vendor of electronic
trading infrastructure, providing better trading through universal
connectivity. Javelin's electronic trading products and solutions power
hundreds of clients including Chicago Board Options Exchange (CBOE), Yahoo!,
Morgan Stanley Dean Witter, Fidelity Management Research and Instinet.
Javelin's innovations have also attracted a growing list of investors
including Robertson Stephens, Advent Software, Thomson Financial, Market
XT/Tradescape and Investec Ernst. For information on Javelin's electronic
trading solutions, visit http://www.javtech.com.
Computer Tools & Services b.v. (CT&S)
CT&S, based in Amsterdam, heads a group of large European (and two
American) companies who recently collaborated on the conception and
realization of a connectivity project to access Euronext. This
multi-million-dollar project, dubbed Jupiter, was partly sponsored by the
European Space Agency (ESA), NASA's counterpart in Europe.
currently undergoing its final testing phase and will soon be operational.
For more information on the service, please visit our website: