The hook-up extends the company's distribution network and provides ICor's institutional users with access to the full range of content and applications being provided over the extranet, known as RadianzNet.
Radianz, an independent company that was established by Reuters and Equant last year, operates the world's largest Internet Protocol (IP)-based network for the global financial services industry. The company already has an ubiquitous presence in the world's financial institutions, thanks to its Reuters heritage – most banks and asset management companies have a Reuters terminal - and the ICor deal brings yet more financial institutions to its global financial extranet.
The network is open for third-party companies such as ICor to use to deliver applications and services. The addition of ICor's platform for the electronic trading of fixed-income, foreign-exchange and equities derivatives, adds to a number of applications already using the network that range from mortgage securities trading and regular brokerage activities to online foreign exchange trading.
"Our mission is to be the trusted network for the world's e-finance community," says Kevin Formby, Radianz's vice-president and head of sales in the United States. "ICor's decision to include RadianzNet is another signal that we can help financial institutions quickly realize their own business plans."