Townsend Analytics, Ltd. (TAL) has agreed to use Radianz’s global financial extranet, RadianzNet, for Internet Protocol (IP)-based network connectivity to partners and clients.
Radianz says RadianzNet was selected for two reasons — its existing connectivity to thousands of financial institutions worldwide and ability to support financial applications using the Financial Information eXchange (FIX) protocol.
The company says RadianzNet’s connectivity will help TAL reach a new sales channel, which will enable TAL to increase its customer base, and give TAL’s customers access to 80 complementary products and services that are distributed by other financial institutions via RadianzNet.
Radianz’s FIX capabilities will provide TAL with access to an additional level of domestic and international clients and systems, especially for FIX order routing. FIX is a standard industry protocol that facilitates straight-through processing (STP) of trading-related messages by enabling different trading systems to communicate with each other. It was originally introduced by a consortium of buy- and sell-side firms in 1993 and has become one of the prevalent standards in global electronic trading.
“Radianz is providing us with benefits its competitors cannot — a large network and access to strategic partners and customers that are already connected to RadianzNet,” said Stuart Townsend, president, Townsend Analytics, Ltd. “In today’s marketplace, this combination is essential when it comes to delivering electronic products and services to a large number of financial professionals around the world,” Townsend added.
For Radianz, TAL is joining the growing list of content and application providers that can be accessed through RadianzNet. Kevin Formby, vice president and head of U.S. Sales for Radianz said, “Having Townsend Analytics as a customer will increase the scope of services across the straight-through processing that can be accessed via RadianzNet.”