Imported from previous forum
[ original email was from Toby Corballis - toby.corballis@rapidaddition.co.uk ]
London, 15 September 2010: Rapid Addition, the leading global provider of trading technology solutions to buy- and sell-side financial institutions, today announced that a further 14 clients have adopted u-Broker™, the firm’s sell-side FIX execution management system (EMS).
The fourteen new clients using u-Broker™, which is part of Rapid Addition’s u-Dealer family and built on Rapid Addition’s FIX Cloud™ service, include five in Europe (Erste Bank, Hungary), seven in the Middle East (Naeem Holdings, Egypt) and two in Asia. The FIX Cloud™ service enables users to connect to counterparties on various FIX networks including Autex, the London Stock Exchange network, Nex Rubica’s Izuka Network and ITG Networks.
u-Broker™ is Rapid Addition’s web-based, lightweight order-capture application which connects brokers to multiple institutions and supports multiple asset classes, including equities, equity options and futures. Its clients are able to accept and reject all orders from personal blotter screens, export data for automatic loading into third-party applications and receive FIX allocations from their counterparties. u-Trader™, a version of the application aimed at buy-side users, will launch later this year.
u-Broker™ is built on top of Rapid Addition’s FIX Cloud™ service, which provides the functionality of FIX via web services. FIX Cloud™ is a cost effective solution for firms seeking the benefits of FIX without the cost of a FIX engine. An additional attraction of FIX Cloud™ for users is its low service interruption cost against the potentially lengthy system integration necessary for other systems.
Toby Corballis, CEO of Rapid Addition, commented: “This has proved to be an excellent year so far for Rapid Addition. Our continued growth by any benchmark proves the value that the Rapid Addition product suite has to offer the market. We are well-positioned to continue to grow through 2010 and into 2011 and are excited about continuing to enhance and develop solutions that best serve our clients’ needs.”
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About Rapid Addition
With over 50 clients worldwide, including the Bolsa de Valores de Columbia and the London Stock Exchange, Rapid Addition is the leading provider of FIX and FAST related software solutions to the global financial community. Company chairman Kevin Houston is the designer of the FIX Repository for FIX Protocol Limited (FPL). Mr Houston co-chairs the FPL Global Technical Committee and is an active member of the FPL Global Steering committee.
Rapid Addition is a technology partner of Microsoft and founding member of Intel Low Latency Labs. Rapid Addition is the only FIX vendor to continuously test their products in the labs. RA-Cheetah, the flagship FIX engine, gives a consistent sub-10 microsecond performance and is the only FIX engine to provide this level of consistent measurement. RA-Cheetah™ and GRHub™ run on our advanced low latency GenerationZero™ technology that ensures no garbage collection. For further information please visit: www.rapidaddition.com.
About U-Broker
u-Broker™ is a lightweight order capture application designed to run in nothing more than a simple web-browser. u-Broker™ provides firms with the ability to receive and work Orders and Allocations electronically from any FIX-enabled counterparty on a supported network. The application offers audit, search and download functions, and can support multiple asset classes. u-Broker™ is built on Rapid Addition’s FIX Cloud™ offering that brings the benefits of FIX network connections to firms that are not FIX-enabled without requiring them to invest in a FIX engine or undergo service interruptions for system integration. FIX Cloud™ supports all versions of FIX from 4.0 to 5.0 Service Pack 2. u-Broker™ is pre-certified on supported networks.