Patsystems Signs Korean-Based Blashnet
Patsystems announced October 21, 2009 that it had signed a software license agreement with Korean-based Blashnet. This partnership marks a significant milestone for Patsystems as Blashnet will serve as Patsystems’ localised hub in Korea, allowing for both inbound and outbound trading.
Utilising its Patsystems infrastructure, Blashnet will have localised connectivity to the CME Group® (www.cmegroup.com) and the Korean Exchange (KRX.) Clients of Patsystems will be able to connect into Korea through the Blashnet hub using Patsystems’ unique X-link network. X-link allows customers of Patsystems to leverage one another’s exchange memberships, in order to achieve maximum exchange connectivity in an efficient and reliable manner. All customers who utilise the Blashnet hub for connectivity to the KRX will still be required to establish a clearing relationship with a local KRX clearing member.
Patsystems will also provide Blashnet with its industry-leading front-end trading platforms, Pro-Mark and J-Trader. This advanced trading capability will be monitored by Patsystems’ proven pre-trade risk management technology.
Barry White, Regional Director, Asia Pacific, said:
“This latest partnership agreement with Blashnet Securities signifies our dedication and commitment to providing solutions throughout the Asia-Pacific region. The Korean installation is a significant milestone for Patsystems, with the new state of the art solution facilitating the needs of new and existing customers wishing to access the KOSPI 200 futures and options on the KRX, CME Group® and EUREX with low latency execution. We look forward to a great relationship in growing our business together.”
Jim Choi, CEO, Blashnet, said:
“We are pleased to be partnering with a strong, well-established provider like Patsystems for our market access and trading solutions. The ease of distribution of Patsystems’ J-Trader platform makes it the ideal trading platform for our customers. We look forward to a successful partnership with Patsystems.”