NYSE Technologies Launches Order Routing Direct Connectivity Service

Order Routing Direct uses technology that allows customers to seamlessly connect directly via FIX protocol with their trading counterparties and doesn't require routing back to a centralized hub.

NYSE Technologies, the global commercial technology unit of NYSE Euronext, announced the launch of Order Routing DirectSM, its new, fully-managed point-to-point order routing service.

Order Routing Direct uses patent-pending network technology that allows customers to seamlessly connect directly via FIX protocol with their trading counterparties and doesn't require routing back to a centralized hub.

"Order Routing Direct provides our customers with fully-managed connectivity, broad FIX compatibility and revolutionary network technology to directly connect to any of the more than 650 broker dealers and 600 buy-side firms in the NYSE Technologies Marketplace community," said Scott Fitzpatrick, VP, NYSE Technologies Marketplace.

"We recognize that some customers have specific trading requirements that are not fully supported by the traditional hub-and-spoke service model used around the industry. By coupling that model with Order Routing Direct, NYSE Technologies has become the only provider to offer customers the value of two complementary connectivity services."

Order Routing Direct offers support for every trading workflow using the FIX protocol standard, according to NYSE Technologies.

This point-to-point service features enhanced recovery, troubleshooting, redundant and resilient solution support, enhanced network routing, and the ease of compatibility with any infrastructure.

With direct access to the more than 1,200 participants in the NYSE Technologies Marketplace community, Order Routing Direct eliminates the need to coordinate with multiple networks and service providers, NYSE said.

Current Marketplace customers can use this service with no changes to their existing infrastructure.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio