Transaction Network Services (TNS) has established an office in Bermuda offering access to its global trading network and other services to the island.

TNS? Bermuda operations are part of the newly formed TNS Bermuda and Caribbean operations, managed by Kevin McDonnell.

TNS, one of the leading international data communication companies, provides a range of solutions to support the financial services and electronic payments industries, including credit cards.

The company was established in January but it is officially launched this week, operating from its premises at 7 Reid Street, in Hamilton.

?Bermuda is an important financial centre, particular for insurance, and connectivity to our network is an important service that is required,? said TNS managing director Norris Ebbin.

Mr Ebbin joined TNS from e-commerce credit card processor Promisant Technology, where he was vice president for finance and control.

Mr. McDonnell said: ?I?m delighted to entrust Norris Ebbin to carry out the very important task of developing our business in the world?s largest offshore financial market. Bermuda is a tech-savvy culture, deserving of the highest standards in technology and global connectivity.?

The company has also established a new point of presence on Bermuda, offering local companies access to TNS? fully managed proprietary IP network, the Secure Trading Extranet.

This will enable traders on the island to connect to more than 1,000 financial community end points around the world, representing over 450 buy and sell side institutions, market data providers, software vendors, exchanges and trading venues.

TNS? new point of presence will also offer global companies connectivity to Bermuda?s extensive financial and insurance markets.

They will be able to send trade related messages including indications of interest, order routing, and executions, and carry out other Financial Information eXchange (FIX) and non-FIX transactions to local Bermuda companies.