NYSE Technologies Marketplace is establishing a connection to the Shanghai Stock Exchange for FIX order routing services through Shanghai Stock Communications (STOCOM), a wholly owned subsidiary of the exchange.
This partnership is designed to further expand NYSE Technologies network reach into China and enable traders and investors to more easily trade cross-borders with speed and reliability, according to today’s release.
“We are thrilled that STOCOM selected NYSE Technologies Marketplace as part of its international strategy and their global order routing platform of choice,” states Peter Tierney, managing director of NYSE Technologies in the Asian region. “This partnership further underscores our commitment to expand our points of connectivity to Asian markets and other key destinations around the world.” A secure and fully redundant connectivity service, NYSE Technologies Marketplace FIX order routing services will open up the opportunity for SSE members using STOCOM services to have reliable, yet immediate electronic access to trading counterparties for multi-asset trading globally. This enables licensed institutions outside of China to extend their FIX connectivity reach into mainland China quickly and efficiently, according to the company’s release.
“With NYSE Technologies Marketplace we can now provide our members access to more than 1,200 buy-side and sell-side institutions and connections to exchanges and other electronic trade execution venues around the world,” comments PhD Lin Pei, vice general manager, STOCOM, in the release. “This new connectivity will help to differentiate our market participants from the competition while also benefitting QDII (Qualified Domestic Institutional Investors) and QFII (Qualified Foreign Institutional Investors) brokers to greatly reduce the cost and time to reach overseas markets.” Through this new connectivity service, NYSE Technologies will offer Chinese institutional clients access to Marketplace, one of the industry’s largest FIX-based communities where more than 1,200 global trading counterparties connect to one another via more than 10,000 fully managed FIX-based messaging channels. Marketplace members benefit from access to a wide range of liquidity sources, lower trading costs and speed-to-market with new trading counterparties and services.
In addition to FIX order routing, NYSE Technologies Marketplace offers customers the benefits of certification, version translation coupled with extensive training and educational programs, notes the release.