To better serve banks and broker-dealers in North America and APAC regions on the NYFIX network around the clock, Fintech Broadridge Financial Solutions, Inc. (NYSE:BR), announced a partnership with Blue Ocean Technologies (BOT), which claims to be unique capital markets Fintech “focused on global afterhours trading.”
Blue Ocean ATS (BOATS) will “integrate with Broadridge’s NYFIX order-routing network to offer clients untapped, after-market access to US equities.”
Blue Ocean ATS operates “an alternative trading system that replicates a daytime trading experience with electronic access, transparent price discovery, regulatory requirements, and clearing and settlement processes while overlapping significantly with Asia Pacific business hours.”
Ray Tierney, President of Broadridge Trading and Connectivity Solutions, said:
“In today’s environment of extreme volatility, access and transparency are mission critical to fostering fair markets. Through Blue Ocean’s access to overnight markets and Broadridge’s expansive client connectivity and proven managed services, we will do just that – enabling increased access to markets for global traders.”
Matthew Horisk, COO and CIO of Blue Ocean Technologies, renarked:
“Blue Ocean was founded with the sole objective of bringing accessibility to all investors and partnering with Broadridge will further our global connectivity and client reach among banks and broker-dealers. We’re energized by this strategic partnership with Broadridge because of the platform and scale they’ll provide, helping us facilitate new client connections to foster increased trade volumes throughout the industry.”
Blue Ocean Technologies will “benefit from Broadridge’s VeriFIX solution, allowing Blue Ocean to simulate FIX order flow in a non-production environment, and Broadridge’s FIX Conductor offering Blue Ocean the ability to onboard new clients not on NYFIX.”
Blue Ocean will also “reap additional client connectivity to manage client order flow through Broadridge’s managed FIX client connectivity layer.”
As noted in the update, Blue Ocean Technologies, LLC (BOT) claims to be “a unique capital markets fintech company empowering global investors by making trading possible during US overnight trading hours.”
Blue Ocean Technologies’ US broker dealer subsidiary, Blue Ocean ATS, LLC, and its trading system Blue Ocean Alternative Trading System (BOATS), currently “trade US National Market System (NMS) stocks from 8:00 pm to 4:00 am ET from Sunday – Thursday.”
Founded in 2019, Blue Ocean ATS is “on a mission to transform US trading to Global trading via its flagship service, Blue Ocean Session, providing access and transparency to subscribers in all time zones during non-traditional US market hours.”
