A-Team Insight Blogs

Itiviti Sets Product Direction and Commits to Managed Services Following Ullink Merger

Itiviti has set out its solutions and services offer following the merger of Itiviti and Ullink in 2018. The resulting unified portfolio covers the trade lifecycle across all asset classes and is split into two sections: Connect, which covers connectivity including the companies’ FIX products and tools, and the NYFIX order routing network; and Trade, which includes solutions for agency trading, principal risk trading, market making and execution management, all complemented by low-latency access to over 150 global trading venues.

The solutions and services are offered on premise, as managed services and in the cloud, playing well into market participants’ increasing desire to outsource as much technology infrastructure as possible, consolidate technology platforms and reduce their number of providers. They also focus on high levels of service and support. Richard Bentley, chief product officer and interim CEO at Itiviti, comments: “We have built strategy, invested in technology and rebranded with these customer issues in mind. The merger has made us a larger company and collectively we can do more for our customers.”

While the Ullink and Itiviti TBricks technology platforms of the former competitors continue to run separately, the new Itiviti is focused on achieving strong technical interoperability across the platforms to provide capabilities from both stacks and solutions from a larger palette. In terms of existing products, the company says they will all continue to be supported and none will be withdrawn in the short to medium term.

The company’s modular and modern open architecture sets it apart from other contenders in the trading technology space, such as ION Trading, which acquired Fidessa last year, FIS and Bloomberg. Richard Bentley, chief product officer and interim CEO at Itiviti, comments: “This is not just about the breadth of coverage we offer, but also how we deliver. We can provide anything from small to large solutions on premise, as managed services or as fully managed services. Our solutions and delivery are extremely flexible and we will integrate with other vendors to meet customer needs. If we do all of this well, the likelihood is that customers will invite us back to do more.”

The company has also built its solutions and services to be cloud deployable and has user acceptance testing platforms in the cloud. Bentley says clients are moving cautiously towards the cloud although most still favour hosting solutions and data in private clouds.

The Connect portfolio demonstrates the company’s strength in connectivity, combining fix tooling and business front-ends from the old Itiviti and UL Bridge managed connectivity from Ullink. The inclusion of the NYFIX order routing network, which Ullink acquired from Intercontinental Exchange (ICE) in 2014 and is used by about 800 sell-side brokers, adds to the company’s dominance in FIX connectivity.

The Trade portfolio, combines Ullink’s focus on the agency trading side, particularly equities and listed derivates, with the old Itiviti’s principal risk trading and market making on the sell-side and buy-side. The companies have also pooled their business intelligence capabilities to meet growing demand for business analytics and client intelligence.

Considering Itiviti’s potential for growth, Bentley says Tier 1 firms often use products from both companies and will benefit from the unified offer. The overlap of firms using the former companies’ trading products is not so large, providing sales opportunities across both platforms. Connectivity will continue to be a key strength for the company.

Related content

WEBINAR

Upcoming Webinar: Opportunities of new approaches to electronic trading

Date: 9 December 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Challenged by legacy systems, less than ideal workflows and high costs, front-office trading teams lack the ability to adapt to clients’ evolving needs around integration, speed and multi-asset capabilities. They are also challenged by a capital markets environment characterised...

BLOG

Straits Financial Joins TrueFX to Enhance Clients’ Access to FX Liquidity

Singapore-based brokerage house Straits Financial Services has joined TrueFX, a trading facility for spot FX, as a clearing member, to provide FX brokers and buy-side firms in the Asia Pacific region with direct market access to spot FX liquidity. TrueFX was launched last year by technology vendor Integral and investment bank Jefferies, in a move...

EVENT

ESG Data & Tech Summit 2022

This summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...