A multi asset class solution for global connectivity accessed via a single FIX connection
Ullink, a leading provider of electronic trading and connectivity solutions to the financial community, today announced the launch of its new Managed Connectivity Service (UL MCS); a comprehensive, fully hosted service providing buy-side and sell-side firms with a one-stop solution for their global, multi asset class connectivity requirements.
The service includes FIX enablement, managed market access to global liquidity venues and brokers, as well as capture and normalisation of exchange / broker drop copies for monitoring & risk management. For brokers, UL MCS supports on-boarding and management of inbound client connectivity via direct connections or through integration with Ullink’s NYFIX and other buy-side order routing networks.
UL MCS is accessible over a single, normalised FIX connection to Ullink, requiring firms to certify just once with Ullink, to access all their counterparties, trading venues and other services. If required, Ullink can also provide its market leading APPIA FIX engine to FIX-enable client applications and provide a pre-certified “on-ramp” for the new service. UL MCS removes much of the need for in-house technology and support, reducing total cost of ownership.
Commenting on the launch of UL MCS Darren Newby, Director of Connectivity Solutions at Ullink, said: “Cost pressures and regulatory requirements are focusing firms on outsourcing commoditised services, but connectivity is business critical and difficult to outsource completely. UL MCS allows firms to realise the cost savings of outsourcing connectivity, as well as benefiting from the latest technology, whilst providing remote management tools to stay in control.”
UL MCS provides a rich toolset for monitoring and configuring the service, allowing firms to quickly add new counterparties and venues. For brokers, UL MCS offers the option of retaining control of the client on-boarding process to preserve the broker-client relationship. UL MCS also provides reporting capabilities to ensure clients remain compliant with evolving regulation.
Richard Bentley, Chief Strategy Officer at Ullink, said of the launch of UL MCS, “We have helped our customers with their connectivity requirements for years but recently they have been asking us to do more. New requirements, such as the need to capture and reconcile broker and exchange drop copies with internal trading logs, are placing stress on internal systems and resources. UL MCS provides such services in a modular fashion, giving customers the agility they need to remain compliant with emerging regulations.”
The service leverages Ullink’s market-leading connectivity technology, hosting and on-boarding capabilities. UL MCS is delivered via a scalable, hosted infrastructure that provides exceptional performance & resilience, low latency & high capacity messaging, supported by a dedicated, global team to tailor the service to customers’ specific needs.