Consolidates post-trade processing across front-office trading platforms in a single, fully-automated solution
LONDON, 17 May 2016. Ullink, the global provider of electronic trading and connectivity solutions to the financial community, today announced the release of the latest version of its Middle Office suite, UL MIDDLE. The new version offers automated straight-through processing of Equities, Derivatives and Fixed Income assets, plus streamlined processing of allocations and confirmation/affirmation workflows using FIX protocol. Audit trail capture and reporting capabilities have also been enriched, to comply with the latest regulatory requirements.
Driven by the macro-trends of regulation and electronification, the Middle Office has emerged as a critical component of a modern trading platform. New regulation has created the need to centralise post-trade workflows for risk/position management, across asset classes and across different front-office trading platforms, with the aim of eliminating manual processes, minimising the potential for errors and omissions. Shortened settlement cycles, continuous allocation and initiatives like Same Day Affirmation (SDA) have highlighted the need for more automation. At the same time increasing volumes of lower-margin trades, and the consequent growth of Low Touch Direct Market Access (DMA), has placed enormous pressure on the Middle Office.
Ullink’s Middle Office solution can support all cross-asset, highly streamlined and high volume post-trade workflows. UL MIDDLE integrates with multiple Front and Back Office systems, providing a convergence layer to ensure consistent post-trade processing. New capabilities aimed at high-volume, Low Touch workflows harmonise processing of Care, DMA and Algo flows, whilst central matching via CTM or local matching via FIX provides flexibility in integration with client systems.
Speaking of the release Richard Bentley, Ullink’s Chief Product Officer, said, “We have seen a significant increase in demand from our sell-side customers for richer capabilities to support their post-trade workflows. The new release of our Middle Office suite responds to this need, allowing our clients to centralise and standardise all post-trade processing across asset classes and different front-office trading systems.”
Ismael Sami, Product Manager for Middle Office Solutions at Ullink, added, “The industry is seeing huge disruption in post-trade areas like Clearing and central/local Matching with new entrants, protocols and regulations. Our latest Middle Office solution provides maximum flexibility to our customers, so they can integrate with their counterparties as quickly and efficiently as possible.”
UL MIDDLE consists of multiple modules handling pre-/post-trade allocation processing, fees and commissions, SSI, electronic confirmation via FIX/email/FAX, warehousing, auditing and reporting, and much more. It is fully-integrated with Ullink’s High and Low Touch Order Management System (OMS), as well as other vendor or proprietary systems and can be deployed as an enterprise or fully-managed solution.
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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, London, Paris, Hong Kong, Tokyo, Singapore, Manila, São Paulo, Cluj and Sydney.
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