ULLINK Confirms NYFIX Compliance with Latest FIXS Security Standards
FIX network implements all security recommendations in latest FIX Technical Standard
NEW YORK, 24 January 2018 – ULLINK, a global provider of electronic trading and connectivity solutions to the financial community, confirmed today its NYFIX Marketplace FIX network is 100% compliant with the latest “FIXS” security standards from the FIX Trading Community. This includes support for the recommended versions of Transport Layer Security (TLS), certificate configurations, ciphers and different methods of authentication as specified. NYFIX is able to support these security best practices across any FIX connection, utilizing both hub-and-spoke and the patented Order Routing Direct (ORD) connection mechanisms.
Increased awareness of cybersecurity across the industry drove the establishment of the “FIX-over-TLS” (FIXS) initiative, led by the Cybersecurity Working Group of the FIX Trading Community, with the mission to define best practices for securing FIX connections as a Technical Standard. ULLINK’s NYFIX has supported SSL/TLS FIX connections since it migrated from a legacy system to its Matrix Architecture in 2010. As a platinum member of the FIX Trading Community, ULLINK has been an active participant in the FIXS initiative since it was founded.
Cybersecurity has been a strong driver in recent growth of the buy-side user community who connect to their executing brokers via NYFIX.
Dan Bassett, Head of Electronic Trading Services at Linedata – a member of the NYFIX Global Alliance Program (GAP), commented, “We are seeing increasing sensitivity in our customer base concerning cybersecurity and specifically around encryption of their FIX message traffic. The in-built support for strong channel security provided by NYFIX is a major factor in our customers’ selection of NYFIX as their network partner”.
Jason Morris, President of Enfusion – also a member of the NYFIX GAP, added, “The ability to deliver robust encryption, in an easily-administered manner and without compromising performance, was a pivotal requirement for Enfusion and is a key driver for our customers to select NYFIX as their network partner. The importance of cybersecurity as a FIX network selection criteria will only continue to increase in coming years”.
NYFIX Marketplace supports FIX connections over the internet and private telecom networks. Internet connections must be encrypted via SSL/TLS FIX or FIX tunneled through a VPN. NYFIX recommends this same level of encryption over private telecom networks in accord with FIXS standards. NYFIX is also cross-connected to a wide variety of other FIX networks and supports encryption on all those connections.
Richard Bentley, Chief Product Officer at ULLINK, concludes, “Security is a must-have capability which we implement as standard in NYFIX. We are committed to maintaining our capabilities at or above the level of current standards, and continuing to contribute to evolution of security standards in the industry”.
For more than 10 years, Enfusion has provided technology innovation and support to the global investment management industry. Our market leading solution, Integráta, automates and simplifies investment management on a single platform and seamlessly provides asset managers full front-to-back office functionality across all asset classes. As a strategic partner to over 300 top-tier firms worldwide, our clients manage more than $500+ billion in the hedge fund, institutional investment and wealth management industries. Enfusion is headquartered in Chicago, with offices in New York, London, Dublin and Hong Kong.
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Linedata is a global solutions provider dedicated to the investment management and credit community, with close to 1250 employees in 20 offices across the globe. Linedata has been at the service of the financial industry from day one, and applies its market and client insight to provide innovative and flexible mission-critical software and services that help its clients grow in over 50 countries. As a pioneer for over 15 years with the set-up of SaaS infrastructure for the financial industry, Linedata remains committed to this model throughout the global financial community and for its full range of products. Headquartered in France, Linedata achieved revenues of EUR 166.8 million in 2016. This company is listed on Euronext Paris compartment B FR0004156297-LIN – Reuters LDSV.PA – Bloomberg LIN:FP.
Linedata Asset Management offers a dynamic, configurable platform of software and services delivered with our deep commitment to a partnership approach that brings together all aspects of managing assets to help our wealth, institutional and alternative clients in 50 countries grow and operate at the highest levels.