TransFIX
TransFIX enables securities firms to send and receive FIX trading messages without the need to change existing applications or to acquire specialist FIX expertise. It is available either as a stand-alone installation or as a managed service whereby MBA runs and operates the software and any third party connections on behalf of its client. TransFIX avoids the expense and time involved in modifying current software applications, the investment in a FIX engine or expensive FIX consultancy.
TransFIX
- Enables existing systems to communicate via FIX without alteration or development
- Facilitates integration with the large and growing array of information and execution centres which use FIX as their messaging protocol
- Future proofs existing systems against protocol upgrades
- Isolates internal systems from external systems so that internal changes can be made without requiring corresponding counter party changes
TransFIX provides a flexible open interface which translates existing proprietary trading messages into standard FIX message format. The trade execution is then performed and the resulting FIX trade confirmation message is translated back into the firm’s original message format. The whole process is completely transparent and avoids the user having to write FIX messages directly.
With an increasing number of execution destinations becoming FIX-mandatory, TransFIX enables brokers and investment management firms to continue to access such destinations without costly and time consuming modifications to their existing message formats.
TransFIX also provides immediate access to an array of trading services that otherwise would only be accessible through the use of the FIX protocol and the specialist knowledge that it requires - services such as price discovery and the execution of equities, fixed income, collective investments and derivatives.
Using TransFIX Investment houses on both the buy and sell side can benefit equally by improved levels of STP.
In terms of FIX-compliancy TransFIX is a viable and cost effective alternative to the intensive process of modifying current trading platforms and back office systems.