Ullink Accelerates FIX Certification With FixSpec

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29 January 2015

NYFIX Services will revolutionise FIX onboarding through fast and efficient, fully automated certification with global visibility

Ullink Accelerates FIX Certification With FixSpec

NYFIX Services will revolutionise FIX onboarding through fast and efficient, fully automated certification with global visibility

London and Paris, 29 January 2015

Ullink, a global provider of market leading electronic trading and connectivity solutions to the financial community, and FixSpec Limited, the London-based FinTech start-up dedicated to simplifying and accelerating financial services connectivity, today announce an agreement to streamline connectivity across the global Ullink NYFIX network using FixSpec's Central platform. Ullink will become the first vendor to implement this new technology.

FixSpec will be installed at global hubs located in Hong Kong, Paris and New York, allowing Ullink staff to monitor and certify the entire global FIX network in real time, from one consolidated internal website. The platform allows Ullink to track client testing traffic, including all internal mappings across the network, as well as validating that outbound order flow sent to brokers and exchanges continues to comply with each venues’ specifications and requirements.

Fully automated certification for the onboarding process means Ullink’s clients can migrate to the Ullink routing network without the need for time consuming and inefficient manual intervention to review and validate against counterparty rules of engagement. With FixSpec, Ullink’s clients’ no longer need to allocate additional manpower to check hundreds of counterparties pre-migration. At the same time it increases the accuracy of the process and eliminates many post-migration issues that could be disruptive to trading and support teams. Additionally the volume of individual connections is no longer limited by the manpower available. Hundreds and thousands of certifications can be electronically validated at the same time, with 100% accuracy.

FixSpec founder Chris Lees said: "We are excited to work with Ullink on this pioneering project, the scope and ambition of which has never been delivered before. Ullink becomes the first FIX network in the world to offer such a solution, which will significantly streamline connectivity for their customers".

"At Ullink we continually strive to offer cutting-edge and innovative solutions to our clients," said Richard Ring, Global Operations Director of Ullink’s NYFIX Services. "To become the first vendor in the market that provides automated self-certification is an exciting development for our clients. FixSpec makes our onboarding process one of the fastest and most efficient services in the industry."

Additional features are planned to further enhance network services for Ullink’s customers, including a new client portal, which will allow customers to view testing traffic, as well as directly request and review additional connectivity routes via a secure interface.

About Ullink

Ullink is a global provider of market leading multi-asset trading technology and infrastructure for buy-side and sell-side market participants. Trusted by over 150 of the world’s top-tier banks and brokers, the company provides consistent, reliable access to the most current and innovative trading solutions available. Since 2001, Ullink has established itself as one of the fastest growing technology companies in the industry.

In 2014 Ullink acquired NYFIX and Metabit from the New York Stock Exchange, further expanding its product offering by creating one of the industry’s largest FIX based trading communities.

The combined company manages over 450 trading platforms daily, is connected to more than 100 of the world’s leading liquidity and exchange venues and offers over 700 different FIX and API adapters. Ullink has offices in New York, Toronto, London, Paris, Hong Kong, Tokyo, Singapore, Manila, São Paulo, Cluj and Sydney.

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About FixSpec

FixSpec is a London-based software vendor dedicated to simplifying and accelerating connectivity in financial markets through innovative tools. Central is a revolutionary platform designed to place certification on auto-pilot, automating routine tasks and freeing client-facing staff to deliver a more attentive and pro-active service to customers. FixSpec's products are multi-protocol, are suitable for any asset class, and are offered as both hosted or enterprise solutions.

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