Broadridge Financial Solutions has partnered with Blue Ocean Technologies (BOT) to better serve banks and broker-dealers in North America and APAC regions around the clock on its NYFIX network.
BOT is a fintech focused on global afterhours trading.Its alternative trading system, Blue Ocean ATS (BOATS), will integrate with Broadridge’s NYFIX order-routing network to provide clients with after-market access to US equities.
Blue Ocean’s alternative trading system replicates daytime trading experiences, providing electronic access, transparent price discovery, regulatory requirements, and clearing and settlement processes while overlapping with APAC business hours.
“In today’s environment of extreme volatility, access and transparency are mission critical to fostering fair markets,” said Ray Tierney, president of Broadridge Trading and Connectivity Solutions.
“Through Blue Ocean’s access to overnight markets and Broadridge’s expansive client connectivity and proven managed services, we will do just that – enabling increased access to markets for global traders.”
The partnership will also allow BOT to utilise Broadridge’s VeriFIX solution, allowing the fintech to simulate FIX order flow in a non-production environment as well as Broadridge’s FIX Conductor – allowing BOT to onboard new clients not on NYFIX.
In addition, BOT will be able to access increased client connectivity to manage client order flow through Broadridge’s managed FIX client connectivity layer.
“Blue Ocean was founded with the sole objective of bringing accessibility to all investors and partnering with Broadridge will further our global connectivity and client reach among banks and broker-dealers,” said Matthew Horisk, COO and CIO of Blue Ocean Technologies.
“We’re energised by this strategic partnership with Broadridge because of the platform and scale they’ll provide, helping us facilitate new client connections to foster increased trade volumes throughout the industry.”
Broadridge’s integration with BOT follows that of its artificial intelligence-driven digital trading platform, LTX, and the Charles River Investment Management Solution earlier this year. The integration enables users to access aggregated liquidity more efficiently and leverage transparency and price discovery within their workflows.