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Transaction Network Services, Inc. (NYSE: TNS), a leading network and data communications provider for transaction-oriented applications today announced that they have been appointed by Yuanta Core Pacific Securities, Taiwan’s leading securities broker by market capitalization, to provide its clients with electronic access to its trading systems. TNS’ Secure Trading Extranet will give Yuanta’s clients fast, secure and reliable access to the broker’s extensive network of financial services.
With over eight per cent of the market, Yuanta processes the largest share of daily turnover in Taiwan’s equity markets. Yuanta stands among the top three futures brokers there and provides access to securities trading, research, investment banking, online trading, mutual funds, fixed income and derivative products.
“We had long been familiar with TNS’ systems and capabilities,” said William Moomaw, institutional equity sales with Yuanta. “The TNS network will complement the investment we’ve already made in designing, building and maintaining our own advanced in-house brokerage system that has set the benchmark for this market.”
“Clients worldwide are demanding electronic access to this market and to service this demand we require a company with a worldwide presence and a reputation for good service and reliability,” continued Moomaw. “A recommendation from one of our customers led us to choose TNS to support our rapid growth plans. We’re always looking at ways to develop and improve trading facilities for our clients, and we felt TNS had the perfect combination of innovation, advanced technology and industry expertise to help us do this.”
The new deal will allow TNS’ customers, who are already on TNS’ extranet, to access Yuanta’s brokerage network.
“Yuanta has achieved remarkable success since venturing into electronic trading three years ago,” said John Pilch, sales director with TNS Asia Pacific. “Using our connectivity for transaction authorization and processing will enable Yuanta to concentrate on growing its business and on building stronger client relationships. We look forward to supporting Yuanta in maintaining its leadership position in the securities industry in Taiwan. Online trading is a much smaller proportion of the total volume in Taiwan, than the US for example, and we believe there is enormous growth potential in this field. We’re excited to be helping the Taiwanese online market realize its full potential.”
TNS currently has a global presence in 28 countries and provides in-country operations wherever the market requires innovative and proven connectivity. TNS’ global activity reflects the increasingly international nature of the transactions market.
TNS’ Secure Trading Extranet boasts more than 100 points of presence connecting over 1,000 financial community end-points and representing more than 450 financial market institutions worldwide.
