NYFIX, a provider of solutions that optimizes trading efficiency and ULLINK, a global connectivity and trading solutions provider, have commenced a partnership to integrate ULLINK's algorithm publishing solution (UL REACH) with the NYFIX Marketplace, the industry's largest FIX-based global trading community. The partnership will leverage the NYFIX Marketplace infrastructure to provide buy-side clients with instantaneous and seamless access to the most up-to-date broker algorithms. The integrated platform offers buy-side firms desk-top access to the latest broker algorithms from across the broker community. The buy-side selects the order strategy and their trade is then sent to the broker for execution via the NYFIX Marketplace. The service requires no additional software and can be used with any buy-side trading system.
For sell-side members, this solution provides a central place to manage their library of algorithms. It allows brokers to publish algorithms to their clients automatically and cost effectively through a user-friendly interface "This exciting and innovative partnership provides another valuable service to the marketplace community. It brings increased efficiency and order enrichment to buy-side firms and allows the sell-side to seamlessly reach the extensive, global marketplace buy-side community. The partnership combines powerful and leading-edge technologies to deliver improved market efficiencies," said Bob Moitoso, global head of FIX division, NYFIX, in a press release.