Ullink, a global provider of electronic trading and connectivity solutions and Contineo Limited, an open messaging network to access issuers of structured products in Hong Kong, have announced that Ullink will provide the FIX messaging backbone for the new platform.
Contineo is the first industry supported, open messaging network for private banks and wealth management firms to access issuers of structured products. Structured product distribution and transactions are currently highly manual and there are different practices and protocols across the industry. Contineo’s goal is to establish a unified communications network using the industry standard FIX protocol, which will be accessible to all participants. The venture is supported by AG Delta, Barclays, BNP Paribas, Goldman Sachs, HSBC, J.P. Morgan and Societe Generale Corporate & Investment Banking.
Ullink has been chosen by Contineo to implement and manage the FIX network, linking all participants via one robust connection.
“We have chosen Ullink’s platform over other vendors’ for its proven technology and ability to provide a stable and efficient platform for FIX connectivity”, commented Mark Munoz, Managing Director at Contineo.
“Ullink’s solutions are scalable and aligned with our business objectives to become the leading structured products network in Asia. We are continually expanding our network and will now be in prime position to add many new participants.”
Philippe Thomas, Managing Director for Ullink Asia, said: “We are delighted to offer Contineo an efficient and robust connectivity solution that can help to develop and grow their business more quickly by allowing more participants into their trading network. The integrated nature of Ullink’s products offers further opportunities for collaboration as Contineo continues to grow”