FIX Flyer has announced that FolioDynamix has selected Flyer's Managed FIX to service their broker connectivity. FolioDynamix uses FIX Flyer's expertise to integrate, run, certify, and monitor counterparty connections using standard FIX or proprietary protocols for electronic trading and the transmission of fund allocation instructions.
Since its introduction in December 2006, Managed FIX has rapidly grown to over 30 broker destinations. The addition of FolioDynamix's sponsor connections added 5 new end points. FolioDynamix chose Managed FIX service to best meet the needs of their growing client base and trade volume.
"Managed FIX lets us pursue straight-through processing with all of our sponsors," says Joseph Mrak, Chief Executive Officer for FolioDynamix. "Now we can scale our business without training new staff or adding expensive fixed costs, especially headcount. We are excited to leverage FIX Flyers' capabilities, expertise and experience in building out a trading network to compliment our offerings.
FIX Flyer runs the Managed FIX services from FolioDynamix' own secure equipment. FIX Flyer's operations crew, headquartered in New York's Financial district, provides hands-on support.
"Our Managed FIX platform enables our clients to focus on their core business while we run their custom trading community for them. The approach ultimately lowers the cost of execution associated with FIX connectivity," says CEO Brian Ross of FIX Flyer. "In addition, other network connectivity providers, such as traditional FIX hubs, require their clients to give up the identities of their counterparties so they can sell more connectivity," he adds.