NYFIX Inc. will be providing Paladyne Systems, LLC., a provider of front-to-back office technology for the hedge fund industry, with FIX connectivity under its “Powered by NYFIX” platform.
Paladyne says it will then be able to offer its ASP clients with access to FIX connectivity for electronic trading and order routing over the NYFIX Network, with over 450 trading counterparties. Their clients will also have full access to NYFIX Millennium(r), a provider of dark pool liquidity, and NEXAS, an algorithmic suite offered by NYFIX Transaction Services. Paladyne says the ability to use NYFIX Natural, which buy-side firms use to communicate Indications of Interest (IOIs) to each other, will also be available.
“The “Powered by NYFIX” offering enables users to seamlessly integrate the NYFIX Network with their proprietary technology,” says Barry Smith, the Senior Vice President for Business Development at NYFIX. “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 application.”
“When we considered all the capabilities NYFIX could offer our clients, they were a logical choice as a technology and connectivity partner,” adds Sameer Shalaby, the CEO for Paladyne. “By integrating NYFIX into the Paladyne suite, we now extend our front-to-back-office solution to include comprehensive order routing and execution capabilities.”