Transaction Network Services (TNS) has now established a presence in Borsa Instanbul (BIST) as a market data vendor, according to a press release.
“Our latest exchange connection allows TNS to provide access to approved recipients, including exchange members and market data vendors,” said Jeff Mezger, TNS’ vice president of product management, financial markets. “This project includes market data for BIST’s equities, as well as the futures and options markets, and increases the number of market data feeds we now offer globally to over 330.”
Under the terms of the deal, TNS will deliver the BIST market data on a global scale using a high availability backbone “with limited network latency,” granting access to BIST across European, U.S. and Asia Pacific exchange connectivity.
The launch will grant interested parties access to Turkey’s sole exchange with order routing and market data connections to the BIST matching engine and connect TNS customers with opportunities to capitalize on related trading activities.
BIST derived from the integration of the former Istanbul Stock Exchange (ISE), which works with equities and security processes, the Istanbul Gold Exchange, which handles Turkish metal-handling companies and the Derivatives Exchange of Turkey, which trades equity index futures, FX futures and metal futures.
The main stock index, the BIST 30, consists of the 30 largest companies. Its trading volume came out to 30.2 billion Turkish lira in 2021, representing a 15% increase from the previous year.
TNS serves as a connection point for more than 2,800 financial community endpoints. The company’s “Infrastructure as a Service (IaaS)” catalog consists of connectivity, colocation, cloud, market data and VPN services. Its operational centers are based in the U.S., UK, Australia and Malaysia.
“TNS’ offering delivers lower overall costs compared to a DIY approach, thanks to the TNS’ mutualized exchange connections and status as a registered data vendor with the BIST exchange,” a recent press release explains. “This allows trading firms to focus on their core business instead of diverting the attention of internal resources to maintain an extensive specialized infrastructure.”