January 12, 2009
New York, New York — Tervela, the leading provider of high-performance, low-latency messaging systems, and FIX Flyer, an innovator in trading solutions for electronic trading, today announced the first joint production customer for FIX on TMX, an integrated high-performance order routing platform. The customer, an international brokerage firm that provides liquidity to global equity markets, has deployed the platform to provide a single point of management for mission-critical, high-speed electronic trading. FIX on TMX combines FIX Flyer’s Engine and Daytona Monitoring Framework with the Tervela Message Network™.
Powered by Tervela’s core message switches, FIX on TMX offers the firm:
- Predictable, market-leading order processing with verifiable service level agreements
- Complete visibility into the entire order flow with full operational performance metrics and integrated, real-time monitoring on both the messaging and business level
- Comprehensive high-availability and built-in redundancy to ensure non-stop service during increasing periods of market volatility
- Rich capabilities and support for future service offerings without the need for re-architecture
- Compelling reductions in TCO compared with disparate, larger-footprint order processing platforms
“In today’s volatile markets, brokerage firms are seeing order flow and liquidity being threatened. As such, they are actively seeking new ways to improve service, increase ‘stickiness’ and remain competitive,” said Barry Thompson, CTO and Co-Founder, Tervela. “Adding new functionality such as algorithms or more asset classes is much easier on this platform. Our integration with FIX Flyer gives customers built-in redundancy, deterministic order routing latencies and ensured non-stop service without requiring additional infrastructure investment.”
With rules-based logic for trading and back office processing, automated data order processing and high-speed APIs, the integrated platform provides an intelligently architected approach to electronic trading and order routing. Additional capabilities include topic configuration, protocol transformation and normalization and multicast assignment. Traders at the global firm have the ability to safely handle unforeseen spikes in volume during volatile markets and experience increased operational efficiencies from consolidating systems and network connections into a single managed strategy.
“Global brokerage firms trade multiple assets across many different geographies, which taxes their trading architectures in very specific ways,” said George Kledaras, Chairman and Co-Founder, FIX Flyer. “FIX on TMX was designed to deal with the demanding performance requirements, heavy dependence on messaging and unique operational challenges they deal with every day. Unlike the legacy, software-based systems that many brokerage firms have, we are working with Tervela to deliver unparalleled speed, continuous stability, enterprise scalability and state of the art monitoring so they can overcome these challenges.”
FIX Flyer is a charter member of the Tervela Advantage Partner Program (TAPP), an ecosystem of integrated partner solutions that extend and amplify the Tervela Message Network to ensure that financial services firms maintain competitive advantage with their high-performance trading infrastructures.
About FIX Flyer
FIX Flyer develops and operates advanced technology for managing complex, multi–asset, institutional securities trading using highly scalable software and network technologies.
Since 2005, as an agile technology provider, we have partnered with our 170+ clients worldwide, including UBS, Barclays, TD Ameritrade, Fidelity, Berenberg, Unicredit, GBM, Interacciones, Bank of America Merrill Lynch, Goldman Sachs, and more to build high quality, feature-rich software.
Flyer has built a team of operational experts who manage and provide Managed FIX software-as-a-service. Our subject matter experts create and operate FIX servers for you to realize the full potential of our software to deliver the highest level of service and return on investment.
The FIX Flyer Engine is the first FIX server designed to manage high volume, ultra low latency trading networks and ECNs, easily scaling to thousands of connections.
FIX Flyer also provides the Daytona trade surveillance monitor, the F1 Risk Control Gateway, the Ignition regression test and certification tool; the Flyer Online hosted Order Management System, and the Flyer Trading Network.
FIX Flyer has headquarters in New York City with offices in Boston and Hyderabad India.