NEW YORK
(HedgeWorld.com)—NYFIX Inc. and Paladyne Systems LLC
announced an alliance that would provide Paladyne's
clients with financial information exchange (FIX)
connectivity under the "Powered by NYFIX" hosted
solutions program.
Paladyne provides front-to-back office technology for
its hedge fund clients, sometimes as individual modules
available for direct installation at the client site,
otherwise within a fully hosted application service
provider (ASP) model.
"By leveraging Paladyne's hosted ASP solution, we
expect to reach a large number of hedge funds that want
a turn-key electronic trading and order routing
solution," said Barry Smith, senior vice president for
business development at NYFIX, in the statement.
Through this agreement, Paladyne's ASP clients will
have access to:
• FIX connectivity for electronic trading and order
routing over the NYFIX FIX network, which involves over
450 trading counterparties;
• NEXAS, a suite of
algorithmic trading solutions offered by NYFIX
Transaction Services;
• The NYFIX IOI [indications
of interest] program; and
• NYFIX Millennium, a
provider of dark pool liquidity. A "dark pool" is
liquidity that isn't public, as in orders on a broker's
book or in a crossing network.
CFaille@HedgeWorld.com
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