Imported from previous forum
FTEN Takes Global License of Aegis Software’s Exchange Simulator 4.0
NEW YORK, May 4, 2004 – Aegis Software Inc., New York-based provider of trading software, announced that FTEN, Inc., provider of real-time trading software and outsourced services, has taken global license of Exchange Simulator 4.0 as an integral component of FTEN’s U.S. and India-based testing strategy.
Exchange Simulator, which currently supports BRUT, Lava, CME, SuperMontage, NYSE DOT, AMEX, Arca, INET, ISE and NITE simulation, is a real-time, interactive trading environment used by developers, QA and production support departments to verify the functionality of their order management systems. Multiple exchanges can be supported simultaneously using protocols such as FIX, CMS and CTCI, with each exchange using its own set of rules. European and Asian exchanges will be supported later this year. In addition to their onsite offering, Aegis has addressed the growing trend of offshore, outsourced development with ExchangeSimulator.com, a 24x7 ASP service.
“FTEN’s technology, developed by the architects of Western Union’s international money funds transfer system and exchange applications for Tandem Computers, was initially deployed in Asian markets including Taiwan, where three of the top five securities firms use FTEN technology,” said Ted Myerson, founder and CEO of FTEN. “When we began U.S. implementations in 2002, we arranged for ASP access to the Aegis Exchange Simulator to ensure compatibility with major U.S. exchanges. Since then, the Exchange Simulator has become such an integral-component of our strategy for keeping pace with increasing client demand that we decided to make a long-term commitment to the product. FTEN looks forward to an ongoing, positive relationship with Aegis.”
“FTEN is a global vendor of sophisticated securities trading systems, delivering their service in many different trading environments” said Norm Friedman, a vice president at Aegis Software. “Having a rigorous testing capacity that is totally under the user’s control and, at the same time, customized differently for each trading venue, is of great value to FTEN.”
Aegis will run demonstrations of Exchange Simulator 4.0 at the SIA Technology Management Conference in New York June 8-10.
About FTEN
FTEN, Inc. (www.FTEN.com) provides securities firms with technology and services that enhance profitability by enabling increased trading volumes, decreased risk and streamlined reporting without requiring radical changes to established back-end processes. FTEN’s MultiXchange™ is an integrated end-to-end system that can be privately branded for each major customer. It includes a customizable front-end, an order management system, extensive real-time risk management capabilities, and account oversight tools to monitor customer activity. FTEN’s HedgeFundInABox™ provides full support for black-box and institutional direct access trading with an emphasis on larger volume hedge funds looking for decreased costs and increased profitability. FTEN’s patent pending RiskXposure™ is the industry’s first real-time, true enterprise risk management system. It gathers execution data for all trades completed by a securities firm’s client base via disparate trading platforms, as well as “away” trades without requiring any changes to underlying systems or introducing additional latency. This data is analyzed in real-time and if a violation of risk parameters occurs, the system automatically sends action alerts to appropriate personnel. The modular architecture of FTEN’s technology was uniquely designed from the ground up to interoperate with and optimize disparate functions within securities firms without requiring a “rip and replace” approach to existing systems to achieve desired results. FTEN clients, located cost-to-coast and worldwide, use FTEN’s technology to process over 1.2 Million transactions a day in more than five countries.
About Aegis Software Inc.
Headquartered in New York City and now in its 10th year, Aegis Software (www.aegisoft.com) is recognized by the financial services community as an innovative provider of trading, connectivity and FIX testing solutions. With a dynamic product line that includes Exchange Simulator, Client Simulator and a high-performance portfolio/program trading platform called AthenaTrader, Aegis is raising industry standards for robust, reliable and well-tested software. Aegis is proud to have been recently selected by FIX Protocol Limited as a vendor for the FPL Certification Program.
Media Contact for Aegis Software:
Carrie Gallagher
212-651-9490
info@aegisoft.com
Media Contact for FTEN:
Ted Myerson
212-808-8440, Ext.990
press@FTEN.com