Moving Across Borders

This is Part Two of a Four Part Series Sponsored by Ullink

Traders Magazine Online News, August 24, 2017

John D'Antona Jr.

Electronification.

While the equities market has long been regarded as the most electronically sophisticated trading ecosystem utilizing the most advanced technologies, other asset classes are also beginning to narrow the gap. With trading in other asset classes migrating from telephony and voice trading to the digital realm, there is an increasing need for secure, reliable and efficient connectivity.

Enter the FIX Protocol. It isn’t just for U.S. equities any more.

Fixed-income and foreign exchange trading markets have become increasingly electronic as broker-dealers and exchanges evolve to meet the institutional investors’ demands for transparency, liquidity, efficiency and security, making the need for universal, uniform and reliable connectivity system readily apparent.

Jason Radzik, Managing Director, Head of Americas Derivatives Execution & Clearing at BNP Paribas told Traders Magazine that connectivity is equally important in trading operations as it is in clearing. And the sell-side is going to need access to the best connectivity solutions if it wants to keep its buyside clients. 

“Connectivity is critically important to electronic trading, not only in speed and availability, but also for product delivery and client customization,” Radzik began. “The sell-side will need to employ the most reliable, flexible and efficient connectivity solutions if it wants to keep its buy-side clients happy. At BNP Paribas, we take pride in the ability to offer a state of the art connectivity solution that supports our clients’ multi asset trading needs with a single, global platform.”

Radzik, who also spent time on the buyside at SAC Capital before joining BNP, added that institutional traders, who are trading program trading baskets across several asset classes or complex multi-leg orders, are ripe for a more efficient means to conduct their business. It is here where connectivity providers such as Ullink and others can assist the buy-side in becoming more efficient.

“Vendors recognize this trend and know that to be a one stop shop they need to offer multiple solutions for multiple products and bring them all under one umbrella,” Radzik said.

Ullink, for example, provides its user with several services all under one roof – or system in this case. One service the firm offers is NYFIX MONITORING,which provides traders, compliance and support people with a comprehensive view of orders, and offers filtering and navigation features. There is also NYFIX MATCHING, which is a post-trade allocation and matching service using FIX and NYFIX TCA, a post-trade cost analysis system featuring reports produced by LiquidMetrix.

For more information on related topics, visit the following channels:

• Technology
• Brokerage