NeoXam, a leading financial software company, has announced an enhancement to its partnership with Itiviti that enables buy-side customers to exchange FIX messages with the sell-side through the NYFIX Order Routing Network as well as leverage NYFIX Matching to streamline the post-trade matching process.
The arrangement strengthens an existing relationship with Itiviti and allows asset manager users of NeoXam’s portfolio management system to directly interact, via the industry standard FIX electronic communications protocol, with the NYFIX trading community of over 1,600 market participants. The move, which removes the need for investment managers to build their own connectivity, comes as regulatory pressures increase demands on buy-side firms to carry out more trading electronically. Additionally, asset managers will benefit from NYFIX Matching, the FIX-based post-trade matching service, to shorten the settlement cycle and lower post-trade costs.
Joseph Cordahi, Product Strategy Director, at NeoXam, said: “This enhanced collaboration couldn’t have come at a better time for investment managers, as demands to automate more of the trading workflow intensifies. FIX messaging has always been at the heart of trading communications for financial institutions, but the rapid changes we’re seeing in global market structure makes this protocol even more important today. By integrating our proven portfolio management system onto the renowned NYFIX platform, we’re able to deliver a richer trading experience to our global buy-side client base.”
Jason Landauer, Head of Network Sales at Itiviti added: “As we continue to expand our NYFIX partnership base, working with companies like NeoXam enables us to continue to deliver an unrivalled service that connects buy-side, sell-side and trading venues across all asset classes.”
The enhanced partnership builds on NeoXam’s previous relationship with Itiviti, which provides buy-side customers with direct electronic access (DEA) to brokers for order execution through NYFIX and post-trade allocation, confirmation and affirmation through NYFIX Matching.