X-link is a software product offered by the ISV Patsystems Plc that allows customers to trade on remote exchanges without becoming a member. It is not a fixed network; rather it bridges separate Patsystems trading domains and systems, for example letting a customer trade on a Chicago system and a London system at the same time. 
All a customer needs is to have an account with an FCM or the bank at a remote exchange in order to "cross link" to the exchange through them. For example, if a trader has an account with Calyon but can only access IDEM through Borse Italiana, Calyon and Borse Italiana can work out an agreement so the trader need not switch his or her account.
Configuration and Feature Set
X-link can be used for internal routing between two Patsystems installation sites, providing connectivity for multi-site companies like global exchanges. It can also be used to route to another Patsystems customer, to take advantage of exchange connectivity without taking exchange membership. The software provides flexibility for users to select clearing and order routing pathways.
The X-Link software runs on a local order routing engine. Once a physical connection is established, the X-Link application is loaded onto the order routing engine at the sending company, and an omnibus account with standard risk management parameters is created at the receiving company. When contracts have been configured at the sending company, orders can be sent to the receiving company through the X-Link connection.
It can run across a LAN, WAN, leased line or the internet. It offers pre-trade risk management, speed of access and straight-through processing.
- Xlink. Patsystems.