Radianz says Fortis Investments has appointed it to provide the networking that supports the Financial Information eXchange (FIX) protocol. Under a three-year contract, Radianz will connect sell-side brokerages around the world to a new FIX-based system that Fortis Investments uses to transmit investment orders to its brokers.
Radianz will supply the networking using its global financial extranet, RadianzNet, which currently connects more than 9,000 institutions worldwide, including the firms to be linked to Fortis Investments’s system.
“Once again, Radianz was selected because it understands institutions’ needs and has a global network that can support their systems, processes and business plans,” says Chris Church, Radianz’s executive vice president and head of Global Sales and Marketing. “Fortis Investments’ use of our existing infrastructure will be far more efficient than buying and waiting for new bandwidth from a common telecoms carrier to be installed. This is a tremendous advantage that Radianz is in the best position to offer because RadianzNet has established connectivity in all the world’s major financial markets.”
Radianz claims that 39 of the top 40 buy-side institutions worldwide, including Fortis Investments, now use RadianzNet to connect to their trading partners on the sell-side.