With new regulations governing OTC derivatives trading coming into play, IPC’s Connexus Financial Extranet has seen significant growth among swap execution facilities (SEFs) and firms scrambling to secure connectivity to ensure competitiveness in the swaps market.
“The rapid growth of the OTC derivatives market and the implementation of the new regulations governing the market have helped drive the growth of our Connexus Extranet,” said Joe Pickel, vice president, Network Services Product Management. “Nearly three-quarters of firms expect their trading volumes to increase this year, while more than 60 percent of firms are or will be connected to one or more SEFs,”
The IPC Connexus Extranet was introduced in late 2011 to offer capital markets firms increased flexibility and responsiveness, bringing them speed, simplicity, expertise and cost advantages, including access to a broad range of cloud-based trade lifecycle services through a single connection. Since then, more than a dozen SEFs, including Eris Exchange, IntercontinentalExchange and Javelin Capital Markets, have been added to the network in preparation for the inevitable changes in the structure of the OTC derivatives markets brought about by new regulations.
“We are delighted that IPC is providing connectivity to a diverse pool of market participants seeking direct access to the Javelin trading platform,” said Michael Black, Head of Infrastructure, Javelin Capital Markets. “As the OTC derivatives markets embrace change, it is extremely important for our clients to have reliable and secure connectivity to our platform for trade execution.”
“As the market structure for OTC derivatives continues to evolve, IPC is providing its customers with solutions that help their clients seize opportunities to grow and profit,” Pickel said. “The additional visibility and control Connexus provides enables customers to make better connectivity and bandwidth decisions and help their firms operate smarter, faster and more efficiently. The numbers of SEFs connected to Connexus grant traders vast opportunities in a growing market.”
Connexus is part of the IPC Financial Markets Network service portfolio which also includes private extranet and Direct Connect data services, as well as Trader and Enhanced voice communications services. The IPC Financial Markets Network is an expansive global network designed for voice and electronic trading and caters exclusively to the exacting demands of capital market participants. The network interconnects global financial centers and allows access to more than 4,500 market participant locations in over 700 cities in nearly 60 countries.
IPC offers high- and low-touch trading communications solutions to the global financial trading community including the top investment banks, hedge funds and investment managers in established and emerging markets. With a 100-percent focus on this sector and nearly 40 years of expertise and an unrivaled record of innovation, IPC provides customers with unified solutions that support collaborative voice trading and real-time electronic trading and market data connectivity. IPC’s offerings include the first unified communications/application platform, award-winning hard and soft turrets, electronic connectivity services including enhanced voice services, business continuity solutions, and follow-the-sun service and support. IPC’s global reach extends to nearly 60 countries – including a financial extranet of more than 5,000 on-net locations in over 700 cities and more than 115,000 turrets deployed worldwide. Headquartered in Jersey City, New Jersey, IPC has approximately 1,000 employees located throughout the Americas and the EMEA and Asia-Pacific regions.