Eze Castle Integration Launches Eze Link Converged Communications Service for Hedge Funds
With an eye on hedge fund trading floors, Eze Castle Integration (ECI)launched a converged communications service today that consolidates connectivity to counterparties, Internet, voice and market data over a private network.
The new Eze Link service leverages Eze Castle’s existing ECINet Private Network, which provides secure Internet communications for 300 buy-side firms. But now ECINet has been directly connected the SunGard Transaction Network or STN in a move to provide customers with one communications platform for reaching all of their trading counterparties including broker-dealers, dark liquidity pools, crossing networks and other execution venues. STN also provides Eze Link with access the Financial Information exchange (FIX) Protocol, the industry standard for buying and selling securities, which was previously not available through ECINet.
“One of the key reasons for us putting this together was high demand from the buy-side community to have a consolidated way to do communications with their counterparties,” said Mark Coriaty, ECI’s director of professional services in an interview on Friday. “Today it’s extremely fragmented,” said Coriaty, noting that hedge funds “have to do deals with a number of vendors to get the same service. Many firms use separate suppliers for FIX connectivity, such as NYFIX or TNS (Transaction Network Service), he noted.
With its consolidated and converged connectivity, ECI is looking to replace the need for those FIX connectivity providers with STN, which provides FIX-based order routing. “It’s less expensive, it’s more efficient, it’s easier to manage,” says Coriaty. If a client is already paying to access STN, there is no additional charge to go through Eze Link, he said.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio
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