Wall Street & Technology Online - | TradingLinx Hires... -
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Published on: 8/11/2000
Last Visited: 8/15/2000
Justin Lowe, founder and co-CEO, adds that 26 % of trade allocations are done manually.In addition 20 % of confirmations are still done through the fax machine at buy side institutions.These statistics refer to the U.S. environment, and they point out that the situation only gets worse when discussing cross border trades.
TradingLinx, which provides an automated confirmation system that was just introduced a month ago, is in the process of soliciting clients for its service.First it is reaching out to European clients as it will focus on cross border trades initially.By the first quarter of 2001 the company will begin to focus on building a U.S. clientele.
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Lowe emphasizes that TradingLinx.comÕs intention is to work with the GSTPAÕs Transaction Flow Manager.Many firms need a way to automate their confirmations and then send them to the GSTPAÕs TFM.TradingLinx will help them do that. Lowe adds that he has had conversations with GSTPA representatives, but until the GSTPA has a tangible system they cannot talk specifics about how they will work together.In addition, Lowe believes the TradingLinx solution will also be able to work with Thomson/DTCCÕs solutionÑanother solution that is not yet off the ground.
TradingLinxÕs system uses an open architecture so it will be interoperable with any other systems that crop up as well, Lowe notes.The confirmation engine is linked to clientÕs order management systems and follows the same work flow and process that traders are used to---only in an automated fashion.The initial focus of TradingLinx is cross border, but it will also open up to U.S. trades.The technology that the TradingLinx system is based on was developed in France.It was purchased by TradingLinx while it was being alpha tested there.