Ullink, a provider of electronic trading and connectivity solutions, has released the latest iteration of its middle office suite, UL MIDDLE, which handles a variety of trading allocation utilities and other processing services, according to a Ullink statement.
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Currently, UL MIDDLE is comprised of several modules that are dedicated to pre- and post-trade allocation processing, fees and commissions, with an additional emphasis on SSI and electronic confirmation via FIX or other mediums – UL MIDDLE is also fully assimilated with Ullink’s existing High and Low Touch Order Management System (OMS) suite.
Ullink’s latest version of UL MIDDLE represents an expanded offering that now boasts automated straight-through processing (STP) across such asset classes as equities, derivatives, and fixed Income assets. In addition, UL MIDDLE has also made notable concessions to audit trail capture and reporting capabilities, namely with regard to the growing level of regulatory requirements necessitated by firms in the industry.
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The primary driver behind the evolution of Ullink’s UL MIDDLE has been macro trends in regulation, in tandem with electronification, each of which have resulted in the practicability of middle office utilities. As a primary component of a modern trading platform, the middle office has carved out a role in any module or utility, especially given the rising specter of regulation, which has fostered a need to centralize post-trade workflows for risk management.
By extension, increasing volumes of lower-margin trades, as well as a rise in Low Touch Direct Market Access (DMA), has also placed an onus on the middle office, which UL MIDDLE helps to address.
According to Richard Bentley, Ullink’s Chief Product Officer, in a recent statement on the release: “We have seen a significant increase in demand from our sell-side customers for richer capabilities to support their post-trade workflows. The new release of our Middle Office suite responds to this need, allowing our clients to centralise and standardise all post-trade processing across asset classes and different front-office trading systems.”
“The industry is seeing huge disruption in post-trade areas like Clearing and central/local Matching with new entrants, protocols and regulations. Our latest Middle Office solution provides maximum flexibility to our customers, so they can integrate with their counterparties as quickly and efficiently as possible,” reiterated Ismael Sami, Product Manager for Middle Office Solutions at Ullink, in an accompanying statement.