InfoReach Debuts Hosted EMS

Execution management system (EMS) provider InfoReach looks to expand its customer base by offering a light version of its enterprise Trade Management System (TMS), dubbed Prelude, vendor officials tell STT.

The new service targets institutional investors and prime brokers that are looking for access to a trading system, but who only want to invest on a month-by-month basis or annually, explains Allen Zaydlin, CEO of InfoReach.

Users wanting to connect to the new platform will need to make a FIX messaging connection to InfoReach's Secaucus, NJ or Amsterdam data centers, which are hosted by Equinix, using version 4.0 to 4.4 of the messaging protocol.

Prelude uses the same technology as the TMS platform, but is different in three different ways, according Zaydlin. First, the hosted version does not include programming interfaces. "If clients are looking to connect the system by an API, they we will need to get the enterprise version."

Secondly, InfoReach has pre-configured the GUI and locked it down so that if the clients want to design custom macros or GUIs they will need to contract InfoReach independently for the services.

Finally, Prelude caps the number of single-name and basket trades to 100 and 1,000 names respectively per account.

"With some hosted systems, each client gets dedicated servers," says Zaydlin. "With Prelude, all the users are sharing the same hardware. That's how we are able to reduce the cost."

The vendor also recently introduced its InfoReach FIX Network (IFN) service that leverages InfoReach's existing multi-node FIX network. The network avoids the common bottleneck in hub-and-spoke architecture by letting participants establish direct connections to counterparties, says Zaydlin.