Transaction Network Services partnered with MIXIT to transmit trading information via its order-management system (OMS), Real Trader, over the TNS network. MIXIT will utilize the Financial Information Exchange (FIX or FIXML) protocol. Under terms of the deal, which were not disclosed, TNS will provide connectivity and disaster-recovery hosting facilities for MIXIT.
Buy and sell-side customers of MIXIT will have access to the TNS network, among the leading networks used for institutional trading. In addition, the deal will benefit existing customers already trading over the TNS network since MIXIT will be able to provide its OMS to TNS clients.
"The growing trend in electronic trading and, more specifically, direct-market access is forcing institutional traders to introduce additional OMS services into their trading strategies. MIXIT helps fill this void," states Alan Schwartz, senior vide president and general manager of TNS' Financial Services Division, in the release.
-- ADP Brokerage Services Connects to Archipelago Exchange
ADP Brokerage Services Group is offering its clients access to Archipelago Exchange (ArcaEx). ArcaEx joins ADP Brokerage Processing Services' (BPS) suite of execution venues with its first Financial Information Exchange (FIX) interface.
"The addition of the Archipelago Exchange to ADP's execution network is just another example of our continued and growing commitment to deliver the highest quality of service to our clients," states Charlie Marchesani, senior vice president, ADP BPS, in a release.
Through ArcaEx, clients can trade more than 8,000 equity securities, including New York Stock Exchange, Nasdaq, American Stock Exchange and Pacific Exchange-listed securities, exchange traded funds, and other exchange-listed securities.
--FXall Opens Boston Office to Target Asset Managers
FXall, an online foreign-exchange platform, opened a Boston office to serve its expanding asset-manager client base, the company announced on Monday. The news follows the announcement that trading by asset managers on FXall's platform increased by 146 percent in 2004 to more than $1 trillion.
As part of its expansion into the buy side, FXall hired two FX specialists from State Street Corporation to develop the office. Melissa McCarthy joined FXall's Boston office as director of customer marketing and relationship management. McCarthy spent 14 years at State Street, most recently in sales, training and business development as vice president and senior relationship manager for the Global Link trading program. FXall also appointed Joedy Tran as a relationship manager. At State Street, Tran was a business-development officer responsible for sales and relationship management.
In a statement, Phil Weisberg, chief executive officer of FXall, cites "enormous growth in the asset management sector," adding that opening a Boston office will help FXall better service its asset-management clients and meet demand from existing and prospective customers.
--Thomson AutEx Integrates AOL Messenger Into Thomson ONE desktop
Thomson Financial has launched Thomson AutEx with the integrated AOL Instant Messenger (AIM) service over the Thomson ONE desktop.
The AIM service, which is the result of a strategic agreement between America Online and IMlogic enables the direct negotiation of price and quantity between buy-side trader and broker, which can streamline and improve upon the price discovery-process, according to the vendor.
AutEx sell-side traders are able to set up instant messaging contact details (name, e-mail, phone or AIM screen name) from within Thomson One, so that buy-side trading partners can respond to indications of interest (IOI) details using the embedded AIM screen name.
Instant messaging integration is part of Thomson Connect, the company's communication and collaboration strategy that is imbedded throughout the company's offerings. In this case, tool sets and capabilities enhance the Thomson ONE's user's ability to connect and collaborate with clients and counterparties.