A FIX for Trading11.05.2013
CameronTec, a provider of FIX connectivity incorporating trading technology and professional services, has launched a joint offering with direct market access provider Object Trading, through which CameronTec will expand its FIX-based Catalys Market Access offering to more than 60 equity, derivative and FX markets across the globe, as a locally deployed or managed/hosted service.
Ongoing pursuit of sustainable competitive edge is driving sell-side firms to focus on reducing business cost and complexity without diminishing client service. Streamlining trade messaging and market access infrastructure while simultaneously reducing risk, cost and complexity across the enterprise, will trigger decisions to abandon legacy infrastructure in exchange for a more cost-effective outsourced offering.
“For the first time, brokers now have access to a comprehensive market-facing infrastructure for FIX and non-FIX markets based on an open, high-performance, reliable messaging technology,” said CameronTec CEO Anders Henriksson. “For many firms currently constrained by proprietary infrastructures, this brings a compelling opportunity for decision-makers on both the business and technology side.”
A number of Tier 1 firms have initiated and realized the combined benefits of CameronTec and Object Trading technology, in-production, resulting in successful deployments and business wins that, in many ways, have influenced the decision to formalize the collaboration.
“As the industry looks to streamline trading operations, eliminating redundant, inflexible market connectivity infrastructures has become a focus, from the CIO and CTO to the traders on the desk,” said Steve Woodyatt, CEO at Object Trading. “Our FrontRunner DMA platform, paired with CameronTec Catalys, provides a simple yet very powerful proposition. Engaging with CameronTec, we can deliver one FIX platform, integrated with one gateway to an extensive set of liquidity venues, supporting all your trade messaging and market connectivity needs across the firm.”
The partnership is a complementary development for CameronTec’s existing connectivity and DMA business. Engineered on the widely acknowledged standard CameronFIX, Catalys powers the largest global user base as the embedded, standard, global FIX-based technology. Its users represent the broadest cross section of tier 1 and 2 investment banks, brokers, fund managers, exchanges, regulators, and members of the ISV community.
Object Trading’s DMA suite provides normalized market access via real-time market data and order execution with in-line pre-trade risk constraints, greatly reducing the complexities of exchange connectivity. Through a single gateway, sell-side and buy-side firms can access equity, derivative and FX markets globally.
Separately, Ullink, a provider of low-latency connectivity, said that its UL BRIDGE connectivity platform is now compliant with FIX 5.0, the best practice communication protocol for swap execution facilities (SEFs). FIX 5.0 has been chosen by the Global Fixed Income Committee for Trading between SEFs and banks in Credit Default Swaps (CDS) and Interest Rate Swaps (IRS). The FIX protocol is used by mutual funds, investment banks, exchanges and firms to transfer financial information in a transparent, cost-efficient and timely manner.
“We have worked closely with FIX Protocol since the inception of Ullink in 2001,” said Laurent Useldinger, CEO of Ullink. “UL BRIDGE has always supported this industry language standard and we are pleased to provide the next generation of FIX to our clients, to improve their trading performance in the OTC Swap markets.”
Instinet Fox River Quant Solution will initially be rolled out in the Americas.
Instinet's Anushree Laturkar says investing in research and analysis is key to improving client outcomes.
The new platform launched via a partnership with BestEx Research.
It is the first liquidity-seeking algorithm on Atlas, the equities trading platform introduced in 2019.
Strategy Studio allows brokers to create their own execution platforms.