Imported from previous forum
[ original email was from Annie Walsh - aw@cameronsystems.com ]
FXall extends FIX offering with CameronFIX Platform
New York, NY: Monday August 22, 2005 — Cameron Systems today announced that foreign exchange platform FXall is extending its FIX connectivity services using the CameronFIX Platform. The CameronFIX Platform has been deployed with FXall’s market leading QuickFill and QuickTrade products.
“FXall has always been at the forefront of automating foreign exchange workflow,” says Jack Lemonik, FXall’s Chief Technology Officer. “Two years ago FXall began offering FIX services to major asset managers. To build on that success, we are working with the CameronFIX platform to deliver turnkey FIX connectivity in partnership with a number of leading OMS vendors.”
Jack Lemonik, a founder member of the FIX Protocol FX Working Group and now Global FX Committee, has actively supported the development of FIX for the FX industry and is widely recognized for his valuable role in advancing the protocol for foreign exchange trading. This success has resulted in FXall taking a market leadership position to educate participants about the benefits of FIX as a protocol for FX trading.
CameronFIX provides FXall’s FIX connection option for QuickTrade and QuickFill. QuickTrade, FXall’s market leading trading tool, provides automated prices in exotic currencies, the flexibility to direct large transactions to a particular provider or prime broker, and the ability to roll trades forward. QuickTrade is a request for stream system that allows a single FIX connection to 50+ major market makers. QuickFill is a multibank executable streaming product with a FIX interface. QuickFill gives traders continuous, multiple rate streams from FXall’s liquidity providers, delivering instant execution with deep liquidity.
Further to this, FXall has automated the workflow process by internally linking the FIX and SWIFT protocols. Once a notice of execution is sent by FIX to an asset manager, FXall acts as a proxy to the asset manager and generates a SWIFT MT300 message which is confirmed by the bank. On confirmation, FXall then generates a notice to the custodian (MT304 message) on behalf of the asset manager.
Cameron Systems’ President and Co-chair of the FIX Protocol Americas Committee, Martin Koopman, adds: "We congratulate FXall for supporting and pushing FIX for FX trading. Cameron Systems continues to demonstrate leadership in supporting the use of FIX across all asset classes as demonstrated by our work with FXall. We are excited about the potential for FIX in FX, particularly following FPL’s recent announcement for a Statement of Understanding between FPL, Twist and ISDA to push FX standards forward.”
Cameron Systems recently announced the latest CameronFIX version 6.2 trading enhancements with solutions for risk and compliance, workflow management, advanced execution and networks/hubs.
CameronFIX provides support for all versions of the FIX protocol (v4.0 to v4.4), all supported instrument types and message types across the trade life cycle.
Cameron Systems is next exhibiting SIBOS in Copenhagen, September 5 – 9, stand # C273.
About FXall
FXall is the leading portal for online foreign exchange trading, offering customers foreign currency trade execution, access to research and straight through processing. By combining streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control and cost savings at every stage of the deal lifecycle.
FXall is an independent company with offices in New York, London, Boston, Tokyo and Singapore.
About Cameron Systems
Celebrating 8 years of success in 2005 with more connections, more customers and more products, Cameron Systems continues to help grow financial markets worldwide by actively supporting and playing a leading role in the expansion of the FIX protocol.
With offices located in New York, London, Sydney, Tokyo and Shanghai, Cameron Systems works with its sales and support Partners and its worldwide client base to deliver greater efficiencies for all FIX trading globally across Equities, Commodities, Fixed Income, Futures & Options and Foreign Exchange.
The world’s leading securities firms and software vendors have selected the CameronFIX platform. These include Fidelity Management and Research, UBS, CSFB, Citigroup, Barclays Capital, Charles River Development, CIBC World Markets, MarketAxess, Gartmore Investment Management, MFS Investment Management, Nomura Securities, Standard Chartered Bank, Latent Zero, Portware, Macquarie Securities and Dresdner Kleinwort Wasserstein.
Contact:
Annie Walsh, Cameron Systems
annie.walsh@cameronsystems.com, +61.404.867.641
Martin Koopman, Cameron Systems
martin.koopman@cameronsystems.com, +1.212.981.8199
Andrea Coleman, FXall
andrea.coleman@FXall.com, +44.20.7173.9631