BST Awards 2021: Best low-latency trading network—Itiviti, a Broadridge business

Product: Itiviti NYFIX

 

OVERVIEW

Itiviti NYFIX is a widely used order routing network, delivered as a managed service. It routes over 35 million messages across over 14,500 channels daily.

Typical user-firms: Itiviti NYFIX connects 1,800 traditional and alternative asset managers and sell-side participants.

The firm’s R&D team represents approximately 43% of its staff worldwide in terms of headcount. 

Itiviti increased its headcount by 6% in 2020. It is planning a large-scale, multi-year hiring spree to support growth and continued investment in its trading technology.

 

“We have been working with NYFIX since 2005 through various different OMS systems including CRD and Aladdin. We appreciate not only the stability of the NYFIX network, but also the quality of their services and support as well as their commitment and investment to innovation.”
Senior quantitative trader and head of market structure and trading analytics at a $200 billion asset manager

WHAT’S NEW

NYFIX has added FIX support for crypto, fixed income and ETDs. Itiviti’s onboarding process has been enhanced with the addition of an Onboarding App in the NYFIX Portal, used to gather the details needed to configure a client’s NYFIX Matching service. It has also added multi-factor authentication for increased security. Itiviti has partnered with True Market, a fixed-income EMS, so that buy-side institutions utilizing Itiviti’s NYFIX network can aggregate, surveil and trade fixed income on a single screen. True Market will also leverage Itiviti’s NYFIX Matching and TCA services. NYFIX has completed its cloud transformation project enabling it to scale its infrastructure based on market volatility and clients’ requirements. It has increased its computing and data storage capacity by over 50% to enable future services.

 

 

 

WHAT’S TO COME

Itiviti is currently providing liquidity aggregation and trading access to all major crypto exchanges/venues through its partnership with Eqonex. It will continue to develop its crypto and digital assets offering.

NYFIX will continue its integration across the Broadridge product suite, including providing FIX routes to Broadridge Investment Management Solutions and connecting with the LTX fixed-income platform.

 

 

 

 

WHY THEY WON

Itiviti claims this title for the second year running due to NYFIX, its flexible order routing network, delivered as a managed service. It recently completed its cloud transformation project, allowing it to scale the NYFIX infrastructure based on market volatility and clients’ requirements. It has also increased its computing and data storage capacity by over 50% to enable future services.

 

 

 

 

NYFIX is heavily relied upon by the largest banks and financial institutions for critical messaging. Stability and resilience are key. At Itiviti, we are committed to continual innovation and advancement of our technology. This year we have redoubled our efforts to support NYFIX to further increase the reliability of the trading infrastructure and deliver uninterrupted service with consistent performance. With Broadridge’s backing, we are best positioned to serve our clients’ entire trade life cycle and further accelerate our plans that contribute to the electronification of the fixed-income market.”
Linda Middleditch, head of product strategy and engineering, Itiviti
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