Jersey City, N.J and Seoul, Korea – February 14, 2011 – IPC Systems, Inc., a leading provider of trading communications solutions to the world’s top financial services firms and global enterprises, today announced that it has extended its worldwide financial markets network infrastructure with high-speed connectivity to the Korea Exchange (KRX). Based in Seoul, Korea, KRX IT Infrastructure is operated by Koscom Corporation, a driving force behind the development of capital markets in Korea for the last 30 years.
By leveraging the global connectivity provided by IPC, its financial services customers will be able to trade across the KRX portfolio of trading destinations, including the KOSPI market trading system, the derivatives market trading system for futures and options listed on the KOSPI200 Stock Index, as well as, the KOSDAQ market trading system that supports trades from order placement through to settlement. Customers will be able to connect to the IPC network hub in Seoul using IPC Electronic Connectivity Services (ECS), with Koscom’s onward direct connection to its trading destinations in Yoeuido and Seocho.
The announcement follows IPC’s recent investment in the development of its pan-Asian Optical Network, which connects major financial centers across the region. Its newly upgraded network infrastructure enables the delivery of ECS over the company’s secure, high speed service platform to support the growing demands of the Asia-Pacific trading community.
“Koscom provides various financial IT solutions and services and Korean market information inside and outside of Korea, thus we are actively involved in developing the exchange’s profile across a range of international initiatives,” said Jung Eui-Yeon, CEO of Koscom Corporation. “It is essential for us to accelerate our transformation into a global market, so we chose IPC to open up our markets to its 4,000 on-net market participants by providing connectivity to KRX.”
“Korea is a critical destination for today’s international trading community, and we’re pleased to introduce the high performance and reliability of the IPC ECS to KRX,” said Peter Noh, APAC regional sales director, IPC Systems. “Connecting to KRX, with Koscom, helps us increase capacity throughout the Asia-Pacific region. IPC is focused on providing its trading customers with dependable delivery, maximum levels of throughput and low latency services. It is well-placed to introduce a growing number of European and North American customers into the increasingly accessible Korean financial marketplace.”
IPC’s global financial network connects the world’s major financial centers and is exclusively focused on providing market participants with the secure, high-speed connectivity they require to support the trade lifecycle. Specifically engineered for electronic trading applications, the IPC portfolio of ECS solutions allows organizations to benefit from dedicated bandwidth and scalable and flexible connectivity capabilities to support their evolving electronic trading requirements.
About Koscom
Koscom is a major global financial IT solution provider that has led the development of the Korean capital market through a sustained programme of technology innovation since its formation in 1977.In addition to the Exchange System, Koscom’s broad range of capabilities includes Overseas Exchange development, Financial Information Services, Financial IT Solution Services and IT Infrastructure Services. To find out more about Koscom, please visit http://english.koscom.co.kr/
About The Korea Exchange
The Korea Exchange (KRX), which was launched in January 2005 by consolidating the four domestic markets, is committed to developing Korea’s capital markets and expanding its activities to operate as a leading venue for the Northeast Asia region. Key KRX divisions include the KOSPI market trading system, the derivatives market trading system that trades the futures/option on the KOSPI200 Stock Index, as well as Star Index futures, Government bond futures and currency futures; as well as the KOSDAQ market trading system that supports trades from order placement through to settlement. For more information, please visit http://eng.krx.co.kr
About IPC
IPC is a leading provider of financial trading communications solutions to the world’s top financial services firms and global enterprises. With nearly 40 years of expertise and innovation, IPC provides its customers with global systems and solutions, as well as a suite of products and enhanced services that includes advanced Voice-over-IP technology and integrated network and 24x7x365 management services in more than 77 countries. Based in Jersey City, N.J., IPC has more than 900 employees throughout the Americas, Europe and Asia-Pacific regions. For more information, visit www.ipc.com
Lauren DoranIPC Systems, Inc.+1 201-253-2343Lauren.Doran@ipc.com
Matt PennacchioRuder Finn for IPC+1 212-715-1613，pennacchiom@ruderfinn.com
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