âFIX over SWIFTâ clients will enjoy new services and a stronger community without any impact on their SWIFT environment. The move will have no impact on the clientsâ SWIFT infrastructure and single-window business model.
ULLINK is a leading provider of FIX solutions for the international financial community. This partnership gives SWIFT clients access to the UL NET and its advanced services such as online publication of algorithms, hosted order books, business monitoring web interface, marketing tools for brokers (online publication of their connectivity and services), 24/7 test access to connect new counterparties, connectivity status monitoring and alerts, full technical support, etc.
ULLINK feels confident that this partnership with SWIFT is in the best interest of the clients of both companies as it extends the global reach of both communities, all this through their existing infrastructures.
Laurent Useldinger, CEO of ULLINK, outlines the advantages of this partnership, âWe will be on boarding âSWIFTNet FIXâ clients on to âFIX over SWIFTâ, and managing FIX message flows over SWIFT. This will help SWIFT customers access more services within the SWIFT framework. It also means that any customer connected on SWIFT will be able to benefit from our value added services,â Useldinger added, âBoth ULLINK and SWIFT clients will access more services and more ready-to-trade counterparties, and will therefore be able to establish new business ties.â
Mark Del Col, Managing Director for global broker dealer securities initiatives at SWIFT, explains the background to this decision: "SWIFT is committed to providing solutions and services in the trading space. We realised however, that our SWIFTNet FIX service was not achieving the take-up we needed. We found ULLINK had the best technology available to manage FIX messaging and FIX client certification services.â
Del Col added, âWe believe that this partnership brings real value to our customers. The new âFIX over SWIFTâ service will provide a direct connection to the ULLINK FIX Hub over SWIFT. This combined solution allows our customers to continue to use their SWIFT connectivity to access the UL NET community, thus achieving access to greater liquidity and the means to quickly establish new electronic trading relationships.â
Sam Romilly, SWIFTNet FIX Product Manager at SWIFT, explains that âSWIFT wanted to partner with a third party specialized in FIX messaging=.. We examined various solutions and felt ULLINK was best placed to provide improved services, an existing community and a rapid implementation of this new solution. We have put in place a simple migration route that will allow clients, who want to move, a fast and non intrusive implementation. We look forward to working with ULLINK in the future on other initiatives to enable our clients to leverage further benefits from their SWIFT single window connectivity.â
Clients ready to move to the UL NET will be provided full assistance throughout the migration. SWIFT and ULLINK are committed to making every effort to ensure all users are satisfied and have full choice on how they wish to proceed to connect to the UL NET.