ULLINK, a trading solutions provider, has signed an agreement with SWIFT, a provider of secure messaging services and interface software, to offer access to the UL NET service over SWIFT. This strengthens SWIFT’s position into the FIX messaging space and adds value to its single-window access to multiple business solutions.
The new platform will provide both companies’ clients with new business opportunities while continuing to give them the benefit of SWIFT’s support and network resiliency. The move will have no impact on the clients’ SWIFT infrastructure and single-window business model.
Clients will be able to access ULLINK’s advanced features and UL NET community through their existing SWIFT line. Features available include online publication of algorithms, hosted order books, business monitoring web interface, marketing tools for brokers, 24/7 test access to connect new counterparties, connectivity status monitoring and alerts and full technical support.
Laurent Useldinger, CEO of ULLINK, states the advantages of this partnership, “We will be on boarding SWIFTNet FIX clients on to FIX over SWIFT, and managing FIX message flows over SWIFT. This will help SWIFT customers access more services within the SWIFT framework. It also means that any customer connected on SWIFT will be able to benefit from our value added services.” He adds, “Both ULLINK and SWIFT clients will access more services and more ready- to-trade counterparties, and will therefore be able to establish new business ties.”
Mark Del Col, managing director for global broker dealer securities initiatives at SWIFT, explains, “SWIFT is committed to providing solutions and services in the trading space. We realised however, that our SWIFTNet FIX was service not achieving the take-up we needed. We found ULLINK had the best technology available to manage the FIX messaging and FIX client certification services.”
He adds, “We believe that this partnership brings real value to our customers. The new FIX over SWIFT service will provide a direct connection to the ULLINK FIX Hub over SWIFT. This combined solution allows our customers to continue to use their SWIFT connectivity to access the UL NET community, thus achieving access to greater liquidity and the means to quickly establish new electronic trading relationships.”
“SWIFT wanted to partner with a third party specialised in FIX messaging,” explains Sam Romilly, SWIFTNet FIX product manager at SWIFT. “We examined various solutions and felt ULLINK was best placed to provide improved services, an existing community and a rapid implementation of this new solution. We have put in place a simple migration route that will allow clients who want to move a fast and non intrusive implementation,” he continues.