London-based Fixnetix announced today that it has entered into an Application Specific Licensing (ASL) agreement with IBM. Under the agreement, Fixnetix will combine solutions from the IBM Financial Markets Framework with Fixnetix comprehensive hosting and market access services to offer clients a powerful combination of ultra low latency technology, infrastructure and managed services capabilities that can be provided by either company.
Fixnetix currently provides collocation connectivity and access to over 55 markets in Europe and the United States, while IBM supports 100+ global feeds, stream computing engines, order-routing technology, low latency messaging, platform services, and other industry offerings as part of its Financial Markets Framework. The combined offering will represent an execution and market data vendor-neutral service focused on customer value, integration services, and global support.
"Fixnetix and IBM have come together to offer the fastest most resilient trading solutions to leading investment banks, hedge funds and proprietary trading groups," say Paul Ellis, Chief Operating Officer and Founder, Fixnetix. "We are honoured to be working with IBM as a global partner, and look forward to realising the advantages of this tremendous opportunity," adds Hugh Hughes, Chief Executive, Fixnetix.
The Fixnetix customer portfolio includes leading banks, hedge funds and proprietary trading firms that choose Fixnetix to reduce slippage and maximize trading strategies across a multitude of major and emerging markets. The IBM relationship is designed to make sense of the "buy versus build" option, and offers a one-stop shop for a premium global managed service offering.
"We are working with Fixnetix to addresses a growing global demand from our clients who are seeking dedicated and shared low latency market data, trading, and other services to gain competitive advantage, reduce cost, and manage ever-growing complexity challenges," said Guy Tagliavia, Director of WebSphere Front Office, IBM .