Enables secure, low-latency connectivity between buy- and sell-side participants, fund managers, brokers, and exchanges, ensuring rapid trade execution and resilient market access.
More about TNS (Transaction Network Services)
High-speed, optimized network connections designed to minimize transmission delays between trading systems and market venues, which is critical for strategies where microseconds matter.
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Direct Market Access (DMA) Enables direct connection to exchanges or liquidity providers for low-latency order routing. |
Marketing notes and product docs mention direct secure connectivity to exchanges and liquidity providers, which falls under Direct Market Access (DMA). | |
Colocation Availability Support for colocation with exchanges or brokers to minimize network round trip times. |
TNS emphasizes colocation and proximity hosting at major financial data centers globally to minimize latency. | |
Cross-Connects Capability Ability to utilize physical cross-connects within data centers for ultra-low-latency connection. |
Cross-connects between participants and exchanges are supported as part of standard connectivity options in TNS data centers. | |
Multi-venue Connectivity Supports simultaneous connections to multiple trading venues or exchanges. |
TNS advertises connectivity to hundreds of exchanges and trading venues simultaneously, implying robust multi-venue support. | |
Cloud Connectivity Supports integration with major cloud service providers (AWS, Azure, GCP, etc) for hybrid trading infrastructure. |
Cloud connectivity (to AWS, Azure, and other cloud providers) is referenced as part of TNS's hybrid deployment options. | |
API Access Provides robust APIs (FIX, REST, WebSocket, etc.) for order management and market data. |
Robust APIs (including FIX and proprietary) are directly referenced as being available for order routing and market data. | |
Remote Access Support Enables secure remote access for trading and monitoring when not colocated. |
TNS supports remote access for clients who are not colocated and supports secure VPN/FW controls. | |
Last Mile Solutions Options for high-performance last-mile connectivity (fiber, wireless, etc). |
No information available | |
Bandwidth Scalability Ability to flexibly scale up or down network bandwidth as required. |
Bandwidth scalability is marketed as a principal feature, enabling adaptation to client order/data throughput growth. | |
Redundant Connections Supports multiple redundant network links to reduce risk of downtime. |
Redundancy and network fail-safe design are highlighted as core to the extranet service. |
Round-trip Latency Time taken to send an order/message and receive a response from the trading venue. |
No information available | |
Latency Jitter Variability in latency over time. |
No information available | |
Throughput Capacity Maximum number of messages/orders that can be processed per second. |
No information available | |
Packet Loss Rate Percentage of data packets lost during transmission. |
No information available | |
Latency Monitoring Tools Integrated tools for real-time latency measurement and reporting. |
Real-time latency monitoring tools and dashboards available to clients. | |
Network Time Synchronization High-precision clock synchronization (e.g., GPS, PTP) across all components. |
Network clock and time synchronization using GPS/PTP is called out in network technical specifications. | |
Guaranteed Service Level Agreement (SLA) Provider guarantees around latency, uptime, and support. |
TNS provides SLAs on latency, uptime, and support response. | |
Prioritization / QoS Supports network Quality of Service (QoS) and message prioritization. |
Quality of Service and prioritization are described in service agreements and technical documentation. | |
Single-hop Communication Minimal network hops between trading engine and market venue. |
No information available | |
Low-latency Switching / Routing Specialized network hardware for sub-microsecond switching/routing. |
Low-latency hardware switching and routing are referenced in colocation and network architecture docs. |
Failover Support Automatic switch to backup systems or connections upon primary failure. |
Failover and automatic rerouting are described as features for resilience and reliability. | |
Geographical Redundancy Distributed infrastructure across multiple locations for disaster recovery. |
TNS emphasizes geographic redundancy by having PoPs in multiple regions and disaster recovery plans. | |
Hot/Cold Standby Systems Availability of standby systems that can take over during outages. |
No information available | |
Network Monitoring Continuous surveillance and health-checks of network infrastructure. |
Network is actively monitored 24/7 with health checks and alerting. | |
Automated Incident Response Capability to automatically respond to faults and reroute traffic. |
No information available | |
Self-healing Network Capabilities Infrastructure can diagnose and rectify certain failures autonomously. |
No information available | |
Proactive Maintenance Support Systems in place for regular preventative maintenance. |
No information available | |
Downtime Notification Immediate alerting on network issues or outages. |
Downtime/outage notifications and client alerting referenced in client documentation and marketing. | |
Service Uptime Percentage of time the network infrastructure is available. |
No information available | |
Historical Uptime Records Availability of historical records for downtime events. |
Historical uptime and service records are available to clients for compliance and due diligence. |
Encryption End-to-end encryption for data-in-transit. |
Data-in-transit is secured by end-to-end encryption, including VPN, TLS or dedicated private circuits as stated in security section. | |
DDoS Protection Built-in network defense against distributed denial-of-service attacks. |
TNS network provides built-in DDoS mitigation services. | |
Access Control Granular user access management and authentication. |
Granular role-based access control is outlined in platform specifications. | |
Intrusion Detection and Prevention Systems (IDPS) Active monitoring for unusual or unauthorized activity. |
Network intrusion detection and active traffic monitoring is referenced under Security best practice. | |
Security Audits & Penetration Testing Regular third-party audits of infrastructure security. |
TNS undergoes annual third-party penetration testing and publishes compliance results. | |
Real-Time Security Alerts Instant detection and notification of security incidents. |
The platform offers customers real-time and proactive security alerts. | |
Network Segmentation Separation of critical trading infrastructure from general-purpose networks. |
Network segmentation is described in technical solution architecture—trading/execution networks are strictly separated. | |
Firewalling Robust firewall solutions to block unauthorized access. |
Physical and logical firewalls are stated as mandatory for all entry/egress points. | |
Physical Security Physical controls and surveillance at data centers and network hubs. |
Physical security, video monitoring, and restricted access to data center/network hardware described in SOC2 documentation. | |
Compliance Certification Adherence to relevant regulatory security and privacy standards (e.g. ISO 27001, SOC2). |
Platform adheres to ISO 27001, SOC2, and other relevant certifications, per product security literature. |
FIX Protocol Support Native support for Financial Information eXchange (FIX) protocol. |
TNS network provides native FIX protocol support. | |
Cross-platform Compatibility Works with multiple operating systems and hardware platforms. |
Multi-OS, multi-platform (Windows, Linux, proprietary appliances) compatibility claimed in integration section. | |
Open API Availability Public documentation and SDKs for easy integration. |
TNS provides open API availability and publishes SDKs/documentation for integration partners. | |
Plug-and-Play Integration Minimal setup required to connect with OMS/EMS and fund management software. |
Plug-and-play setup for common OMS/EMS vendors is marketed (including integration support). | |
Data Format Flexibility Support for various trading data formats (JSON, XML, binary). |
Supports multiple data formats including JSON, XML, and proprietary protocols for trading data. | |
Back-office System Connectivity Ability to interface with reconciliation, risk, and compliance systems. |
Can connect to back-office, compliance, and risk platforms as per integration materials. | |
Customizable Interfaces Ability to tailor integrations based on unique workflow requirements. |
Custom interfaces tailored on a per-client basis are part of the implementation offering. | |
Standard Middleware Support Compatibility with leading middleware solutions for messaging and event handling. |
No information available | |
Third-party Vendor Certification Certified interoperability with popular trading software vendors. |
No information available | |
Legacy System Support Integration pathways for older infrastructure or proprietary systems. |
Legacy system integration and onsite assistance available for migration and interface. |
Elastic Resource Allocation Dynamically adds capacity for bandwidth, processing, or storage as needed. |
Network resources (bandwidth, compute, storage) can be dynamically allocated based on client need. | |
Linear Performance Scaling Performance increases proportionally with added resources. |
Performance scaling is described as proportionate to resource commitment; architectural design notes. | |
Multi-tenancy Support Accommodates multiple users, clients, or funds simultaneously. |
Multi-tenancy is standard for TNS Extranet, supporting multiple clients/funds securely. | |
Automated Scaling Tools Systems can auto-provision or decommission based on demand. |
Automated scaling and provisioning are offered for clients with changing demand profiles. | |
Geographic Expansion Capability Easily extend coverage to new markets or regions. |
The network can rapidly expand to cover new markets/exchanges on request. | |
Order Rate Limit Maximum supported burst rate for order entry. |
No information available | |
User Limit Maximum supported concurrent authenticated users. |
No information available | |
Venue Limit Maximum number of trading venues/exchanges supported. |
No information available | |
Session Scalability Ability to handle increasing numbers of trading or data sessions. |
Supports session scalability for increased numbers of trading/data sessions as client needs change. | |
API Call Rate Limit Maximum rate of programmatic API calls handled reliably. |
No information available |
Real-time Network Analytics Dashboards and reports for live network performance metrics. |
Dashboards and real-time analytics for network performance are core to TNS's extranet service. | |
Latency Heatmaps Graphical representations showing latency across venues/routes. |
No information available | |
Order Flow Analytics Visualization of trading activity for performance analysis. |
Provides order flow analytics to clients via reporting dashboards and real-time tools. | |
Historical Data Access Access to retained latency, throughput, and system log data. |
Historical data and log access retention available for compliance and troubleshooting. | |
Custom Alerting Configurable thresholds for automatic notifications of anomalies. |
Custom alerting and reporting are available, with thresholds defined by client. | |
API for Metrics Extraction Ability to extract raw or processed data via API. |
APIs for extracting operational and trading metrics are provided for advanced users. | |
End-to-End Tracing Trace orders/messages across their complete lifecycle for troubleshooting. |
No information available | |
Audit Logging Complete logging of system and user activity for compliance. |
Comprehensive audit logging is integrated into all network and trading activities. | |
Third-party Monitoring Integration Ability to integrate with popular monitoring tools (Splunk, Prometheus, etc). |
No information available | |
Exportable Reports Generate and export custom reports for management or regulatory review. |
Custom and exportable reports are included for management, client, and regulatory needs. |
Low-latency Order Routing Specialized mechanisms for routing orders in the shortest possible time. |
Low-latency order routing is a key marketing and technical point for TNS extranet. | |
Order Acknowledgment Time Time taken from order send to acknowledgment. |
No information available | |
In-flight Order Modification Ability to modify or cancel orders before execution completes. |
Supports in-flight order modification/cancellation for supported venues and via FIX. | |
Bulk Order Handling Efficient support for block or program trading. |
Supports bulk orders and program trading; scalability aspects highlighted for institutional clients. | |
Order Sequencing Preserves strict order of message delivery to prevent race conditions. |
Order sequencing is inherent in order management and network processing for fair/accurate trade flow. | |
Order Persistence Ensures orders are not lost due to network or system failure. |
Order persistence is supported via redundant storage and failover built-in to network fabric. | |
Trade Drop Copy Support Provides real-time drop copy of executions to back-office and risk systems. |
Trade drop copy is directly referenced as supported for integration with back office and risk. | |
Order Throttling Enforces configurable limits on order submission rates. |
Order throttling supported as part of rate limiting and compliance controls. | |
Anomalous Activity Detection Flagging of suspicious or erroneous order flow. |
Activity monitoring for anomalous/suspicious flow is part of active network security/monitoring. | |
Order Timeout/Expiry Handling Automated expiry or cancellation of unfilled orders. |
Order timeout/expiry handling supported for all connected trading venues. |
Low-latency Market Data Feed Handler Specialized systems for ingesting and parsing raw exchange market data. |
Low-latency market data feed handlers are integral to TNS core services. | |
Normalized Data Feeds Ability to consume and output market data in standardized formats. |
Normalized market data feeds provided for downstream client consumption. | |
Multicast/Broadcast Support Efficient data delivery to multiple recipients simultaneously. |
No information available | |
Feed Gap Detection Automatically detects missing or out-of-sequence data packets. |
No information available | |
Snapshot and Incremental Updates Handles both full-depth market snapshots and ticks/updates. |
Supports both snapshot and incremental (tick-by-tick) updates to clients. | |
Dynamic Subscription Management Allows real-time control over subscribed symbols/markets. |
Dynamic subscription management for markets/instruments is available via the platform. | |
Data Throttling Configurable maximum data delivery rates to client apps. |
Data throttling is configurable according to client profiles. | |
Feed Latency Latency from market data generation to receipt by trading engine. |
No information available | |
Historical Data Replay Ability to replay market data for backtesting or simulation. |
Historical data replay is part of the data and analytics package for clients. | |
Market Data Recovery Automated recovery in case of feed disconnection or corruption. |
Market data feed recovery/redundancy is referenced as a resilience feature. |
24/7 Technical Support Round-the-clock access to vendor technical assistance. |
24/7 support is mentioned as integral to the TNS service promise. | |
Dedicated Account Manager Assigned representative for personalized support and escalation. |
Dedicated account managers are provided to institutional/exchange clients. | |
Onsite Support Availability Option for physical presence of support staff during incidents or upgrades. |
Onsite support is available as part of premium or project-based contracts. | |
Knowledge Base/Documentation Comprehensive and regularly-updated online help resources. |
Comprehensive documentation and knowledgebase maintained on vendor domain. | |
Customer Training Programs Structured onboarding and ongoing user education. |
Online and onsite client training available for new and existing customers. | |
Custom Implementation Services Vendor-led services for bespoke integration/deployment. |
Custom deployment and integration services described in product literature. | |
Regular Product Updates Scheduled releases of new features and bug fixes. |
Regular product and platform updates are scheduled, including security and feature releases. | |
Incident Escalation Procedure Well-defined escalation paths for urgent issues. |
Incident escalation and response procedures outlined in support and SLA documentation. | |
SLA Enforcement Processes for tracking and enforcing service level agreements. |
No information available | |
Root Cause Analysis Provision of root cause analysis on incidents upon request. |
No information available |
Transparent Pricing Model Full clarity into cost structure for infrastructure and add-ons. |
Pricing models and contract structure are transparently published and discussed with clients. | |
Pay-as-you-go Option Consumption-based billing, avoiding high upfront commitment. |
Pay-as-you-go and usage-based billing features are included in TNS contract offerings. | |
Tiered Subscription Plans Different service levels/capacities at ascending price points. |
Tiered subscription plans are detailed for various class of service and volume tiers. | |
Volume Discounts Reduced per-unit cost at higher usage or term commitments. |
Volume discounts available for high-throughput/enterprise clients as part of pricing strategy. | |
No Lock-in Period Ability to exit or downgrade contracts with minimal penalty. |
Flexible contracts with minimal lock-in or downgrade penalties are available. | |
Free Evaluation/Trial Option to test system performance before full commitment. |
Free evaluation, proof of concept and trial access provided to new customers. | |
Inclusive Support/Upgrades Basic support, maintenance, and updates included in license cost. |
Standard support/upgrades included in most service contracts. | |
Clear SLA Penalty Clauses Documented credits or penalties when SLA is not met. |
SLA penalty clauses (service credits/refunds) are included in legal agreements when SLAs not met. | |
Cost Predictability Absence of variable, unpredictable costs. |
Product emphasizes predictable and flat pricing for most offerings, minimizing variable charges. | |
Usage Analytics for Cost Optimization Reporting tools to help optimize usage and minimize spend. |
Usage analytics and reporting tools are available to track/optimize cost and usage. |
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