Trading solutions firm NYFIX has integrated fellow trading tools provider ULLINK’s UL REACH algorithm publishing technology with the NYFIX Marketplace, a FIX-based trading community. The firms say the partnership will allow buy-side clients to access the most up-to-date broker algorithms through the NYFIX Marketplace infrastructure.
To use the service, buy-side traders select the order strategy and their trade is then sent to the broker for execution via the NYFIX marketplace. The companies added that the service requires no additional software, and can be used with any buy-side trading system.
The solution also provides sell-side members a central place to manage their suite of algorithms. The companies said it allows brokers to publish algorithms to their clients automatically and cost effectively through a user-friendly interface.
“This partnership brings increased efficiency and order enrichment to buy-side firms and allows the sell-side to reach the global marketplace buy-side community,” said Bob Moitoso, global head, FIX division, NYFIX, in a statement.
Laurent Useldinger, CEO, ULLINK, added, “This partnership extends the capability of ULLINK’s algorithm solution and offers greater access to the buy-side. This makes it much easier for our own sell-side clients to trade, as they can extend their algorithmic capabilities to all NYFIX Marketplace clients.”
In other news, Realtime Systems Group (RTS), a trading solutions provider, is now connected to ULLINK and, thanks to the new RTS-to-UL BRIDGE plug-in, RTS users can now access more than 300 buy- and sell-side counterparties worldwide.