June 18, 2015
New York, New York — FIX Flyer, a leading provider of electronic trading software to Latin America’s top financial firms and the global capital markets, announced that MexDer, the Mexican Derivatives Exchange, selected FIX Flyer to implement the monitoring and pre-trade risk controls for its electronic trading platform. The FIX Flyer solution has now replaced the previous Risk Gateway allowing MexDer to meet market demands as they rapidly develop.
The Flyer Formula One pre-trade risk gateway monitors MexDer’s risk exposure of its members from one central location, giving the MexDer’s clearing firms control and visibility across the market.
FIX Flyer delivered its suite of trading solutions, including the high-performance FIX Flyer Engine, the Daytona trade surveillance, monitoring and alerting tool, and the Flyer Formula One pre-trade risk gateway. The complete solution allows MexDer’s Clearing firms to establish risk controls to monitor and surveil risk across their clients and accounts.
“We have been taking enormous steps to facilitate direct market access to our products. The BMV Group continues to set high standards for Mexico and the Latin American financial community. This next generation market gateway enables our global aspirations,” said José-Oriol Bosch, Chief Executive Officer of MexDer. “The solution has been successfully rolled out, permitting us to execute our strategy of upgrading our members’ access to the next generation market gateway with pre-trade risk controls, and this is what demanding global traders need to compete.”
FIX Flyer works with exchanges all over the world and understands the challenges in scale, normalization, and risk. Brokers and exchanges are looking for world class technology providers to comply with ever-changing regulations. FIX Flyer has years of experience providing trading technologies in many markets; but now, FIX Flyer’s risk and surveillance technologies have matured to handle the most demanding markets in the world.
“Our members expect continued growth in volume and this can put strains on our trading infrastructure,” said Jose Miguel De Dios, Chief Operation Officer at MexDer. “Here, we implemented a solution that will allow us to embrace the future as the market is evolving quickly. FIX Flyer understood our challenges and delivered a solution that will set new high standards in electronic trading for the whole world to see.”
Brian Ross, CEO of FIX Flyer said: “We are greatly honored that MexDer has worked closely with FIX Flyer as its provider of choice for the next generation risk control gateway. MexDer is a leading global exchange that sets high standards around the world. There is rapidly growing interest in Mexico’s markets from the United States, Europe and Asia. We welcome the opportunity to contribute to MexDer’s growth as we facilitate its members’ electronic access to that exchange.
About FIX Flyer
With clients worldwide, including UBS, Barclays, Larrain Vial, GBM, Bank of America Merrill Lynch, Goldman Sachs, and JP Morgan, FIX Flyer develops advanced technology for managing complex, multi-asset, securities trading using highly scalable software and network technologies. FIX Flyer provides the high performance F1 Risk Gateway; Exchange Adapters; Managed FIX services; the Daytona trade surveillance; the Ignition regression test tool and the Flyer Online OMS. The Flyer Engine is the first FIX server designed to manage high volume, ultra low latency trading networks and Dark Pools, easily scaling to thousands of connections. FIX Flyer hosts and partners with Equinix, the leading global provider of networks neutral data center. FIX Flyer is an IBM Business Partner with real world experience on System X and Power. FIX Flyer has headquarters in New York City with offices in Boston and Hyderabad India.
MexDer is the derivatives subsidiary of the Mexican Exchange (Bolsa Mexicana BMV), the financial exchange operator in Mexico that operates full service cash and derivatives exchanges, with equities and fixed income securities listings. A self-regulated entity, MexDer along with Asigna, its triple-A rated clearinghouse, offer liquid, transparent Mexican benchmark products based on interest rates, foreign exchange, stock indexes, commodities and swaps.
For more information go to www.mexder.com.mx