Trading technology firm Itiviti announced this Tuesday that it is forming a partnership with Syspower, a Taiwanese trading solutions provider. The partnership will enable Syspower to access over 700 brokers through Itiviti’s NYFIX trading platform.
Syspower is already a dominant player in the Taiwanese trading industry. The firm set up the FIXNet network that enables over 500 buy and sell-side institutions to connect with one another.
The firm has formed a partnership with Itiviti in order to access the firm’s NYFIX trading platform. According to today’s statement, this was due to growing demands from Syspower’s clients, who were seeking greater access to international clientele.
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The partnership appears to already be bearing fruit. New clients have signed up to receive Syspower’s services after the partnership’s service offering was made available to companies.
NYFIX is an appealing product to many as it is easy to connect to almost any order management system (OMS). Without the hassle of untangling current software and replacing it with something else, NYFIX can be used by vendors to connect their clients with international customers at a much cheaper rate than would otherwise be possible.
Commenting on the decision to partner with Itiviti, Stony Fan, Chairman of Syspower, said: “The quality of our exchanges with Itiviti from our first meetings and the support our teams received during the whole process were fantastic; getting customers live was a simple, fully managed process. This partnership gives us confidence that we can expand greatly.”
Today’s announcement comes after Itiviti merged with another trading technology firm, Ullink, in March. The merger saw Itiviti taking control of NYFIX which was previously owned by Ullink.