Imported from previous forum
[ original email was from Annie Walsh - aw@cameronsystems.com ]
FIX Protocol Expands in Foreign Exchange Space:
Currenex Deploys CameronFIX for FX Trading FIX Gateway — ESP™
NEW YORK, NY, Monday March 22, 2004 — The rapid expansion of FIX beyond Equities was evidenced further today with the announcement that New York-based Foreign Exchange [FX] trading network Currenex has deployed the CameronFIX engine with its new FIX-compliant FX service, Executable Streaming Prices [ESP™].
"Currenex predicts FIX will grow as the preferred Standard for FX trading," said Clifford Lewis, Currenex CEO. "An important step for us therefore has been to develop a FIX gateway so we can offer the broadest and most flexible connectivity options. We have proactively developed our trading platform and API’s to make integration and STP as easy as possible for our institutional customers. To date we have been very impressed with the performance of CameronFIX and the FX expertise and support provided by Cameron Systems."
FIX is a viable solution for FX managers as it tenders access to a larger liquidity pool, provides faster time to market, enables increased volume and offers centralized FX dealing within the Order Management System. Using the FIX 4.2 spec, Currenex’ ESP™ service for streaming FX rates allows price makers to transmit and refresh in real-time spot bids and offers to customers, who can then execute from displayed prices directly or in the name of the prime broker.
Whilst FIX has supported FX trading as far back as the 4.0 spec, FPL signaled clearly to the trading community in December 2003 that it was actively working to expand the use of FIX with the formation of the FIX Protocol Limited FX working group.
As well as significantly increasing the number of CameronFIX deployments in the global Equity markets, Cameron Systems has taken a leading role with FIX deployments in the emerging markets. "We are currently out there promoting the broader use of FIX for Foreign Exchange and Fixed Income trading," said Martin Koopman, Cameron Systems Commercial Director. "We are pleased Currenex has endorsed the FIX Standard for FX trading with the deployment of CameronFIX for its Forex FIX gateway."
Cameron Systems recently announced MFS Investment Management had selected CameronFIX for Fixed Income and Foreign Exchange trading [Jan 12, 2004].
Cameron Systems is next exhibiting in Europe at Trade Tech Paris April 27 – 29, and in the U.S. at SIA Technology Management Exhibit, June 8 – 10 in New York.
About Cameron Systems www.cameronsystems.com
Cameron Systems remains focused on FIX. Its flagship product, the CameronFIX engine, is a highly scalable solution suitable for large and medium size fund managers, brokers and exchanges, as well as smaller companies who use the FIX protocol.
Cameron Systems client base is global in over 15 countries in North America, Europe and Asia Pacific. Major customers include UBS, Fidelity Management and Research, Knight Securities, CIBC World Markets, Nomura Securities, Barclays Capital, Dresdner Kleinwort Wasserstein and Credit Suisse First Boston. Cameron Systems has offices in New York, London and Australia.
Cameron Systems is a global member of the FIX Protocol Organization.
About Currenex www.currenex.com
Currenex is the leading, low cost technology provider of foreign exchange and money market trading solutions for global financial institutions, funds, corporations and other participants. Through private branded systems as well as a global electronic communications network of FX price makers, prime brokers and intermediaries, Currenex supports real-time, auditable, online trading across all currencies 24 hours a day.
Contacts:
Annie Walsh
Corporate Communications Manager
Cameron Systems
Tel. +61 412 867 068
aw@cameronsystems.com
Martin Koopman
Commercial Director
Cameron Systems
Tel. +1 917 639 4127
mk@cameronsystems.com
Sean Gilman
Chief Technology Officer
Currenex
Tel. +1 914 921 8208