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TNS network chosen by Westpac

Telecomworldwire, July 22, 2005

Transaction Network Services (TNS), a data communications services provider, has revealed that it has been selected to provide trading counterparty connectivity services.

According to TNS its secure network, the Secure Trading Extranet, has been chosen by Australian bank Westpac for its institutional banking division. Direct access to a worldwide financial community with over 1,000 connected end points is said to be provided for Westpac through a single TNS connection. This will enable Westpac to provide streaming prices in financial markets, starting with foreign exchange.

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Westpac said the TNS network will enable easier liquidity access for its customers and will provide access to services such as market data and exchanges, order routing, trading applications and trader voice services. Its investment banking division is reported to have already upgraded its network to install a disaster recovery facility in London, UK.

A TNS spokesman claimed there is a general move towards electronic trading, enabled by the development and take-up of such open standards as Internet protocol and FIX.

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Technology Industry

TNS network chosen by Westpac

Telecomworldwire, July 22, 2005

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