Logicscope, a leading provider of market data and post-transaction messaging to the financial community, today announced the introduction of the TradeSTP Vendor Partnership Program, an initiative aimed at broadening and accelerating certification of the company's highly successful deal notification product.
TradeSTP is the leading independent deal notification system currently deployed in the foreign exchange and other over-the-counter trading markets. TradeSTP takes completed deals from banks or brokers, delivers the transactions to counterparty systems and integrates them, via a range of interfaces, with the target applications. Designed to connect execution venues such as EBS, Bloomberg, eSpeed, Hotspot and market-making banks to their counterparties, the program will simplify and significantly reduce the time and effort currently spent in the integration process.
Nick Dyne, Logicscope's chief executive officer, said, "This program is a result of the emergence of TradeSTP as a standard in post-trade messaging and is a direct response to demands from clients for easier and faster access to liquidity providers, without the work and disruption typically involved in creating such interfaces."
"For vendors, a TradeSTP interface will add value to their products by broadening client connectivity. It will also facilitate the employment of their applications to deals generated outside the client site from a wide range of electronic trading systems. Clients will benefit from a reduction in the often prolonged integration process and with little or no disruption to their existing systems."
John Jessop, Logicscope's chief operating officer, adds, "Gaining membership of the TradeSTP Vendor Partnership Program is simple and free of charge. Vendors are invited merely to deliver to Logicscope sufficient documentation to build the interface. Typically, this means payload formats and API/middleware interfaces, and so on. Vendors will also be asked of course to provide relevant system updates."
"Our current clients include many of the leading liquidity providers in foreign exchange and related instruments. We see this program as a unique means of expanding market connectivity between the leading price givers and the global investment community."