Imported from previous forum
[ original email was from Tony Johnson - tony.johnson@cognito-europe.com ]
· FIX.NET Server 2002 enables IFDS clients to offer EMX STP processing
· Microsoft-based FIX engine’s first integration with a non-Microsoft application environment
4th November 2002 – London – SolutionForge, the UK-based provider of financial Straight-Through Processing solutions, has today announced that International Financial Data Services (IFDS), the global provider of specialised shareholder and investor servicing solutions, has selected its FIX.NET Server 2002 FIX engine to provide connectivity to the UK fund market’s Electronic Message Exchange (EMX).
SolutionForge’s FIX.NET Server 2002 will enable IFDS clients (fund management companies and distributors) to take orders and provide valuations through EMX on behalf of their own clients, a facility that has previously not been fully automated.
SolutionForge is focused on developing solutions based on the Microsoft platform. Although IFDS’ strategic eCommerce application architectures are not Microsoft-based, the flexibility built into Microsoft .NET and SolutionForge’s FIX.NET Server 2002 allows easy integration with applications on other platforms. The foundation of .NET is XML Web services, which allow applications to share data, and invoke capabilities from remote applications without regard to how those applications were built, what operating system or platform they run on, and what programming language they were written in.
Steve Wilkinson, SolutionForge’s founder and CEO comments, “FIX.NET Server’s advanced XML support was a major factor in IFDS’s decision to go with SolutionForge”. This technology was developed as part of a recent project SolutionForge undertook at the London Stock Exchange as part of their Retail Service Provider Gateway project, which has been operating successfully since July this year.
Wilkinson continues, “One of the key factors in SolutionForge basing its technology on the Microsoft platform was its inherent flexibility. We have had major successes with our technology in organisations running on Microsoft application development platforms but the IFDS implementation clearly demonstrates the interoperability provided by .NET web services, enabling any organisation to take advantage of the reduced TCO and ease of operation of the Microsoft platform”.
Kevin O’Neill, Director of IT, IFDS adds, “SolutionForge is working closely with IFDS and EMX to enhance the EMX capabilities within FIX.NET Server 2002. FIX.NET Server 2002 will compliment our eCommerce strategic application architectures to provide business services. It will be used by a significant number of financial institutions that execute their business electronically with IFDS via EMX. After reviewing potential vendors and performing a comprehensive vendor selection process we concluded that the SolutionForge product provided the best solution. It had a proven record with FIX, EMX and had a flexible architecture to integrate with our own.”
NOTES TO EDITORS
ABOUT SOLUTIONFORGE
SolutionForge serves the international financial community with a specific focus on Straight-Through Processing solutions. As an experienced provider of solutions that implement the Financial Information Exchange protocol (FIX), SolutionForge has developed a track record of successful customer projects, by complementing off-the-shelf software with focused professional services.
For further information visit www.solutionforge.com
Contact: Kevin Lee +44 (0)1277 312 304.
ABOUT IFDS
International Financial Data Services (International Financial) is a joint venture between Boston-based State Street Corporation (NYSE: STT), a world leader in financial services providing investment servicing, investment management, trading services and investment research, and DST Systems Inc, a Kansas City-based leader in the design, development and operation of proprietary shareholder accounting software systems.
International Financial is today recognised as the worlds leading provider of ASP (Application Service Provision) and BPO (Business Process Outsourcing) solutions to the global collective investment industry. Supporting over 11.5 million accounts for over 50 organisations, and with over 1,200 experienced staff based in three locations (Canada, Luxembourg & United Kingdom).
For more information visit the International Financial web site www.ifdsgroup.com