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Electronic Trading Newsflashes: Nikko Systems Solutions Taps Iris Financial, and Track ECN, TNS Deliver Trade Execution

Nikko Systems Solutions Taps Iris Financial to Build Bond Trading System, Track ECN and TNS Secure Trading Extranet Deliver Trade Execution to Shared Customers

Nikko Systems Solutions Taps Iris Financial to Build Bond Trading System

Nikko Systems Solutions has chosen Iris Financial, a provider of trading and risk management solutions for investment firms, to build its next generation fixed-income trading platform.

The new solution is the successor to Nikko Systems Solutions’ current bond trading solution. The new bond risk management system will be built on Iris’ CSA (Component Services Architecture) technology platform, a J2EE-based set of development technologies. It also will leverage Iris Financial’s analytics engine, which Nikko Systems Solutions is rolling out as its standardized analytics engine for all fixed-income technology applications.

"Iris Financial has proven time and again that they have deep understanding of the unique needs of global banks and can deliver powerful, reliable technology solutions to leading firms in that market," said Masahiro Nakajima, executive officer, supervisor of Development Management Department, Nikko Systems Solutions, in a statement. "Our current Iris Financial solution has served us for several years. We look forward to launching the new solution and taking full advantage of Iris Financial’s innovative technology and rich functionality."

Track ECN and TNS Secure Trading Extranet Deliver Trade Execution to Shared Customers

Track Data Corp., parent company of Track ECN, an electronic communications network (ECN) available to institutional and independent traders, and Transaction Network Services, a network and data communications provider for transaction-oriented applications, have deployed a joint product that is currently in use by Infinium Capital Group.

"Financial institutions utilizing TNS' Secure Trading Extranet to conduct trades through the Track ECN are getting a double benefit," said Alan Grujic, managing director at Infinium Capital Group, in a release. "The Secure Trading Extranet provides the most reliable communications and constantly evolving technology around the trading process, while Track ECN offers some of the best pricing options in the market. Both of these factors affect the bottom line when it comes to the business of trading."

"We have been working with Track Data for some time, and TNS is really seeing an increase in client demand for the connection to their ECN," said Alan R. Schwartz, SVP and general manager of TNS' Financial Services Division, in a statement. "Working with ECNs like Track has added to the growth in the number of customer end points maintained by TNS, both physical and logical. TNS is achieving its goal to deliver faster transactions to more traders."

Track ECN allows customers to reach all markets and does not tie its pricing to minimum monthly trading volume requirements. Customers connecting to Track ECN through the TNS Secure Trading Extranet are up and running in about three days, versus the typical required implementation time of six to eight weeks with direct, point-to-point connections.

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