Northern Trust and UBS Warburg are the first buy-side and sell-side firms to migrate to Thomson Financial's new global single host platform for high-speed worldwide order routing utilising a single FIX connection.
Using a new, enhanced Thomson TradeRoute connection, current and new US clients are being migrated to the global host as the first phase of Thomson Financial's Liquidity Vision initiative. The goal is to facilitate the high-speed transfer of multiple message types through one concentrated global network, streamlining connectivity between institutions and brokers. Once connected to the new global host, institutions and brokers will have access to all connected order routing clients worldwide, says Thomson.
Ultimately, Thomson's indication of interest (IOI) and trade advertisement messaging platform, AutEx and AutEx Connect, will be wired in, providing seamless messaging capabilities through a single FIX connection. A single User Interface will be available for connection to the new host.
Order management software (OMS) from Charles River Development, one of a raft of OMS vendors to test connectivity and be certified to the new platform, is being employed by Northern Trust.
Stephen Lynner, executive vice president of Thomson Financial's sales and trading group, says: "In response to increased trade volume, STP expectations and T+1 mandate issues, our ambition has been to provide an entirely new global equity-trading platform that encompasses the latest computer hardware, networking systems and specialised software."