Algorithmic Trading news articles - FIX CITY PARTNERS WITH SIMCORP TO INTEGRATE IOIs WITH TRADING
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FIX CITY PARTNERS WITH SIMCORP TO INTEGRATE IOIs WITH TRADING
FIX CITY, a global software provider of FIX Indication of Interest (IOI) solutions, has announced its partnership with investment and treasury management systems provider SimCorp, to provide an integrated IOI distribution and trading solution via FIX CITY?s ioinet solution and the SimCorp Dimension assetmanagement system. The integrated solution will provide SimCorp?s, buy-side clients with instant and seamless access to liquidity in securities, directly from their order blotters, significantly speeding up the trading process.
ioinet will be integrated with the trading function of SimCorp Dimension during Q3 2006. The integrated solution will streamline the delivery and management of IOI messages and trade advertisements, providing an up-to-date view of liquidity in the stocks within ioinet and allowing SimCorp?s buy-side clients to work straight from their order blotters. SimCorp Dimension will use ioinet?s web services API to identify stocks on selected orders within the trader?s blotter.
SimCorp?s buy-side clients using ioinet will also be proactively notified about new liquidity on stocks of interest via ioinet?s watchlist facility, enabling them to respond to specific IOI messages immediately. In addition to IOI messages, firms will also have access to historical trade advertisements from ioinet?s sell-side community, revealing the brokers that are active in the stocks for which they have orders.
Paul Scott, director, FIX CITY, comments: ?SimCorp?s innovative use of modern technology means that SimCorp Dimension provides a perfect fit for ioinet. The integrated IOI distribution and trading solution provides even greater levels of functionality to SimCorp?s buy-side clients. The partnership further cements ioinet?s position as the primary source of liquidity for dealers and provides a greater number of destinations for ioinet?s sell-side community.?
Keith Wright, senior domain manager, SimCorp, comments: ?We chose FIX CITY?s ioinet solution as it is easy to integrate and enables our clients to access liquidity in the timeliest manner. This enables them to react faster to trading opportunities from ioinet?s growing community of brokers. Using the blotter as a source of screening allows our clients to focus on the IOIs that are of most interest, ensuring the maximum number of successful orders.?
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