The service is based on Ubitrade's innovative Ubix system, which does away with traditional, end-of-day processing to provide a highly flexible and responsive service that is available 24/7. Ubix offers a unique, by market, end-of-trading process that runs as each market closes, without the need to take the system down.
Ubitrade is offering flexible fee arrangements, which includes pricing on a “pay as you go” basis for the new service and believes it will appeal to established and new organisations alike. "With an outsourced system such as this the costs are highly visible," said Andrew Hobbs, Business Development Director at Ubitrade. "When compared to the capital cost of a system plus its maintenance and the staff costs, outsourcing makes real sense for most organisations."
Hosted at dual "mirrored" sites, access to the Ubix bureau is via any IP (Internet Protocol) network. Typically customers will choose VPN (Virtual Private Network) access to the online clearing and settlement system, to ensure security of transactions. Access via any web browser can also be provided for reporting purposes, for example. Ubitrade guarantees support for new instruments, and the bureau service conforms to FSA (Financial services Authority) regulations on its customers' behalf.
"With the Ubix bureau service we aim to provide a more reliable, faster, more convenient, flexible and cost-effective solution. That may sound like a tall order, but we are confident in our offering and looking forward to working with clients in the UK to realise these benefits," concluded Hobbs.
