Imported from previous forum
[ original email was from Robert Stowsky - rstowsky@brookpath.com ]
Brook Path Partners announces FIX-Complete implementation service
New package of consulting services offers customers a methodology for implementing the FIX protocol across multiple asset classes.
Boston, MA June 10, 2003 - Brook Path Partners, Inc. has announced the launch of FIX-Complete, a package of consulting services specifically designed to help customers implement the FIX protocol for all asset types supported by the FIX 4.4 specification, including equity, fixed income, derivatives and foreign exchange. Additionally, FIX-Complete covers the use of FIX for all phases of the trade lifecycle including pre-trade, trade, and post-trade messages such as allocations.
“FIX-Complete is designed to address the “bumps in the road” that many firms encounter when first implementing the FIX protocol,” said Robert Stowsky, Brook Path Partners’ President and CEO. “Our experience with buy-side and sell-side firms, in addition to a number of trading platforms, has shown that even firms with FIX experience for trading equities do not fully comprehend the business and technology impacts of using FIX for trading fixed income and derivatives; nor are they aware of the cost advantages of using the new FIX messages for trade allocations.”
FIX-Complete utilizes a methodology for implementing the FIX protocol that addresses a customer’s overall trading infrastructure and workflow. The methodology begins with educating the end users on how electronic trading impacts the day to day operations of traders and support personnel in the front, middle and back office. The next step is developing a high level strategy and design that focus on defining clear business goals for how FIX will be used and addressing internal infrastructure and external connectivity issues. As part of the strategy and design phase, Brook Path Partners will assist the customer in determining the FIX related products and connectivity services that best fit the customer’s trading environment. An in-depth business analysis phase will provide a data map between existing systems and the FIX protocol, as well as defining new workflows. This will lead to creation of a comprehensive test strategy for both internal and end-to-end testing with counterparties to ensure the meeting of requirements for functionality, reliability and performance. During the development phase, Brook Path Partners will provide guidance and reviews of work done by the customer’s internal, or external, development staff in addition to reviewing end user documentation and procedures. During testing and implementation, Brook Path Partners will work with the customer and its counterparties to resolve any conflicts resulting from differing interpretations of the FIX protocol specification. For more information on FIX-Complete, contact Brook Path Partners at fix@brookpath.com or visit www.brookpath.com.
About Brook Path Partners, Inc.
Brook Path Partners is a consulting services firm focusing exclusively on investment technology. They cover all phases of the investment and trading lifecycle from research and discovery through settlement and clearing and beyond to corporate actions and event processing. A recognized authority on the use of financial protocols, Brook Path Partners actively contributes to the FIX, FpML and ISO 15022 XML standards organizations. Brook Path Partners’ FIX protocol practices are headed by Lisa Taikitsadaporn, EVP and COO. Lisa is a member
of the FIX Protocol Global Technical Committee where she co-chairs the Global Fixed Income Technical Subcommittee. She also co-authored the FIX Protocol Fixed Income Gap Analysis that is the foundation of the FIX 4.4 fixed income specification. To learn more about Brook Path Partners, please visit www.brookpath.com.
About FIX
The Financial Information eXchange (FIX) protocol is a messaging standard developed specifically for the real-time electronic exchange of securities transactions. FIX is a public-domain specification owned and maintained by FIX Protocol, Ltd. For more information on FIX please visit www.fixprotocol.org.