Logicscope and NCI are pleased to announce an agreement to integrate elements of their respective software technologies to deliver a complete trade notification solution to end user clients of banks, brokers and trading platforms.
Under the terms of the agreement, Logicscope's innovative, multi-asset trade notification technology -TradeSTP - is integrated with NCI's TIM (Trade Information Manager) solution to add greater flexibility and functionality to the automated trade notification process.
The integrated solution - TradeSTP/TIM - will be distributed by Logicscope as a valuable addition to its TradeSTP suite of connectivity products. Logicscope and NCI will be responsible jointly for product development, marketing and service support.
TradeSTP/TIM will be offered as a fully-hosted solution, delivered via Radianz - end users will be able to connect to the host via Internet and/or RadianzNet to receive trades, integrated seamlessly with target applications and middleware using industry standard interfaces. Both TradeSTP and TIM have been developed with industry-standard FpML at their core; as such, TradeSTP/TIM is inherently capable of supporting automated trade notification for multiple financial instruments.
Delivered in a software-as-a-service (SaaS) model to minimise change to a user's in-house software and infrastructure, Logicscope's TradeSTP products connect liquidity providers (banks, brokers and trading platforms) with their customers, using sophisticated transformation and routing capabilities to deliver completed deal information directly to end users' post-trade environments. Logicscope recently announced the launch of its fully-hosted solution, TradeSTPConnect, which enables e-trading venues, to deliver trade notification of multiple assets to multiple end users connecting to the TradeSTP host. NCI's TIM product enables traders to easily identify and review trades on screen and accept them (for onward processing) or deny them (for correction and re-submission). Since its launch in 2007, TIM has been offered as a fully-hosted solution delivered to the screens of traders and middle/back office staff over the Internet and RadianzNet.
Garry Benson, Managing Director oor of NCI, said: "NCI drew on 10 years' experience of developing, marketing and supporting DDN to develop TIM - a state-of-the-art product both in terms of its technology and its functionality. TradeSTP/TIM is a natural progression. NCI and Logicscope have been working together for some time and the synergies between the two companies are perfect, with complementary products, customers and objectives. I believe that TradeSTP/TIM will be welcomed by the finance industry as an independent best-of-breed solution from two very respected and established suppliers."
The combined offering, TradeSTP/TIM, delivers additional flexibility to traders, giving them the option to select specific trades for review by applying a variety of criteria (e.g. TraderID, instrument type, currency) with enhanced straight through processing of all other trades directly to end users' middle and back office environments. All trades (STP and non-STP) can be viewed in real time in the TIM trade blotter.
Nick Dyne, Chief Executive Officer of Logicscope, added: "TradeSTP/TIM combines unparalleled, proven expertise in trade notification technology linking trading venues seamlessly and efficiently with end users. Our collaboration with NCI adds significant value to our respective product offerings, delivering greatly enhanced trade processing and STP flexibility and functionality, with minimal IT integration and support required by trade publishers and their customers".