Ullink, a trading and connectivity solutions provider, has had its UL Bridge connectivity solution integrated by Kotak Institutional Equities (KIE), a leading institutional Indian broker and division of Kotak Securities, according to a Ullink statement.
KIE covers secondary market broking and Indian equity offerings, including IPOs and other market initiatives catering to both domestic and foreign institutional investors (FIIs). The group has leaned on Ullink’s UL Bridge to help streamline its FIX messaging, message enrichment, and order routing capabilities.
Under the terms of the new partnership, UL Bridge’s modular infrastructure will function in tandem with KIE’s Order Management System (OMS), allowing KIE to provide improved execution services to an additional array of clients, both locally and worldwide.
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More specifically, UL Bridge provides a cascade of trading features that process FIX baskets and aggregate trades into a consolidated execution report. Furthermore, UL Bridge also facilitates automatic distribution of orders between DMA, Algo and Care desks.
According to Philippe Thomas, Managing Director at Ullink, in a recent statement on the integration, “We are continuously expanding our geographic reach and are excited to support Kotak Securities with our global, innovative trading solutions.”
“With India in the spotlight as one of the most important and rapidly growing emerging markets, I am pleased that Kotak Securities will be leveraging Ullink’s solutions to further strengthen its position as a leading financial services provider,” he added.
Earlier this month, Ullink deployed its technology to Nordic liquidity provider Remium. The latest integration saw Remium utilize Ullink’s Market Making solution, building on an existing framework of Ullink’s DMA and connectivity platform.