Imported from previous forum
[ original email was from James Parker - jparker@tnsi.com ]
PRESS RELEASE:
FIXML FLYER & TRANSACTION NETWORK SERVICES INC. JOIN FORCES TO DELIVER INNOVATIVE HOSTED FIX SERVICE FOR COST-EFFECTIVE ELECTRONIC TRADING
Deal makes hosted FIX services accessible and cost-effective whether a financial industry participant is big or small
New York, New York – March 8, 2006 – Transaction Network Services, Inc. (NYSE: TNS), a leading provider of business-critical network and data communications services for transaction-oriented applications, and New York based FIXML Flyer today announced an agreement to unleash the full promise of an advanced, browser based FIX application for electronic trading with financial industry participants no matter how large or small by creating a gateway to the TNS extranet.
“Our new ASP electronic trading service called FIXtp creates a new class of hosted FIX services for buy side firms,” said Brian Ross, chief executive officer of FIXML Flyer. “Users can now load pre-trade, trade, and post-trade files via a browser or ftp, automatically convert them to FIX and stream them as FIX messages to their broker over the TNS’ Secure Extranet with the push of a button. With our hosted FIX service, firms no longer need to spend time and money licensing, implementing, and supporting a buy-side FIX engine. There is no longer a requirement for buy side FIX programming or for a senior buy-side employee to understand FIX. Thousands of counterparties can now be serviced through one managed FIX session. FIXtp provides firms with the power of FIX enabled electronic trading that is easy to setup, easy to access and is tremendously cost effective for all asset classes,” said Ross.
Alan Schwartz, executive vice president and general manager, Financial Services Division, TNS, added, “Flyer and TNS share a vision for a future in which feature-rich electronic trading platforms are fully accessible to large, mid-sized and small financial participants. We are honored that Flyer’s industry respected management team recognized the synergies and benefits of working with TNS. Flyer customers will gain excellent speed and security by sitting within our resilient core facilities.”
FIXtp is built on top of Flyer’s FIX engine which is an advanced implementation of the FIX (Financial Information Exchange) protocol, the globally recognized messaging standard for real-time electronic securities transactions. Flyer’s FIX engine is already in service at Flyer’s financial customers and FIXtp is now rolling to new clients.
Ross added, “FIXtp also provides easy to use monitoring and exception reporting. Plus, FIXtp clients receive free FIX certification by FIXML Flyer.”
About Transaction Network Services, Inc.
Transaction Network Services (TNS) is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. TNS provides rapid, reliable and secure transaction delivery across multiple vertical markets and trading communities.
Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction-oriented data. TNS’ networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. TNS’ network technologies have been deployed in the United States and internationally, and TNS’ networks have become preferred networks servicing the trading community, wireless and wireline carriers, and the card processing and dial-up automated teller machine markets. For further information about TNS’ transaction solutions, please refer to www.tnsi.com.
About FIXML Flyer
Based in New York City, FIXML Flyer was founded by George Kledaras and Randy Prager, pioneers in developing advanced technology for managing high-volume, multi-asset securities trading using FIX. For company information visit www.fixmlflyer.com