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Financial Information Exchange (FIX)

By InfoReach

Over the past few years the Financial Information Exchange (FIX) Protocol has achieved worldwide acceptance among various financial industry participants - hedge funds, money managers, sell-side firms, traditional exchanges and ECNs. Currently, FIX is being used for equities, fixed income and foreign exchange trading for both cash and derivative products.

The software solutions for FIX Protocol based electronic trading are commonly known as FIX Engines. FIX Engines maintain electronic connectivity with trading counterparts, communicate trading information and monitor data integrity. InfoReach is devoted to maintaining its leading position in the growing FIX Engine technology. We have developed a comprehensive product for electronic trading that allows companies to be competitive in the market. Abundant features, high reliability and committed support that accompany our products have made it a technology choice of major financial institutions including UBS, Credit Lyonnais Securities - Bloomberg Tradebook, Barclays Capital, Bank of America, etc.

INFOREACH FIX Engine

INFOREACH FIX Engine is an enterprise-strength solution for companies planning to use FIX protocol for electronic exchange of financial information and Straight Through Processing (STP). INFOREACH FIX engine was designed to handle high volumes of message flow across multiple connections and to fit seamlessly into any distributed electronic trading infrastructure.

The engine consists of a FIX messaging library and a multi-connection, multithreaded stand-alone FIX Server written in 100% Java. Client applications would have to link the library to generate and process FIX messages. The server handles all of the TCP/IP and FIX session maintenance.

The main characteristics of INFOREACH FIX Engine that sets it apart from its competitors is the magnitude of features and deployment options supported by the engine. As a leading provider the new generation of FIX-based order management system InfoReach has accumulated substantial expertise exploiting the FIX Protocol from the perspective of the trading and order management process. INFOREACH FIX Engine's features and functionality reflect such expertise.

Architecture

FIX Engine is the products' core component responsible for connectivity management, FIX session maintenance and FIX message handling. It can be distributed across multiple processes and machines providing increased capability to handle extreme FIX message throughput and a great number of FIX connections.

The Engine Domain Manager supplies configuration data for all the FIX Engine components, managing component interactions.

The Directory Service consolidates configuration data of all the FIX Engine components. This includes remote object references, and GUI Tool user preferences.

The FIX Message Log Facility administers FIX message persistence and furnishes FIX session state information during system recoveries.

The Event Log Facility gives developers and administrators a means of troubleshooting system issues. It can easily be integrated with various application monitoring solutions.

INFOREACH FIX Engine comes equipped with the suite of essential set Engine GUI Tools for convenient FIX Engine management.

Features

Flexibility: Runs on Windows NT/2000/XP, Solaris and HPUX. Provides Java, C++ and ActiveX APIs. Supports various databases.

Scalability: While a single FIX Engine is capable of handling significant numbers of messages and sessions, the number of FIX Engines deployed across the network can provide a virtually unlimited connectivity and message volume capacity.

Optimised Performance: The engine is highly optimised to handle extreme message throughput and volume.

Fault Tolerance: FIX Engines can form fault-tolerant clusters, so client applications receive no service disruption should one of the engines fail.

State Recovery: The FIX Engine state is fully recoverable when the engine is restarted.

User-defined Fileds and Messages: With Engine GUI tool - Metadata Editor - you can configure FIX Protocol user-defined messages and fields.

Protocol Versions: INFOREACH FIX Engine supports 4.0, 4.1, 4.2, 4.3, 4.4 and FIXML.

Supported Platforms: Windows NT/2000/XP, Solaris, HPUX.

Supported Databases: MSSQL 2000, Oracle, Sybase, PostgreSQL and proprietary filebased persistence.

Testing and Certification Tools: Engine GUI tools – Message Composer and Flow Monitor - allow you to quickly test and certify FIX connectivity with your trading counterparts.

Support Desk Tools: Message Log Analyser enables support staff to run user-defined queries against the FIX messages that are stored in the database in order to retrieve complete transaction threads.

Benchmarking: A set of built-in utilities allow you to quickly benchmark engine message throughput, as well as performance of database and network.

Firewall and DMZ: INFOREACH FIX Engine can be deployed on computers with multiple network interfaces. FIX sessions can be established through WAN interfaces and client application can communicate with the engine through LAN interfaces.

Encryption: PGP-DES-MD5, DES, SSL

Dynamic Configuration: Most of engine configuration changes do not require the restart of the engine.

Scheduling: FIX Session connect, disconnect, reset and end-of-day procedures can be automated.

Engine APIs: Java, C++ and ActiveX