Imported from previous forum
Renaissance Capital’s Adoption of SolutionForge’s FIX.NET Server Puts Russia on the FIX Map
- Leading Broker-Dealer becomes first Russia-focused investment institution to implement FIX messaging
- Implementation project completed in four weeks thanks to .NET technology
8th March 2004 – London - SolutionForge, provider of financial Straight-Through Processing solutions, today announced that Renaissance Capital Limited (Renaissance Capital), the leading broker-dealer focusing on the Russian financial market, has gone live with its FIX.NET Server product. The successful completion of this project makes Renaissance Capital the first Russia-focused broker-dealer in the UK to utilise the FIX protocol.
Renaissance Capital will use FIX.NET Server on the Transaction Network Services (TNS) network to route orders and executions to and from its clients. Utilising the TNS infrastructure, and the inherent flexibility of FIX.NET Server, will enable Renaissance Capital to connect to multiple new clients within days.
Quick time to market was a key factor in the company’s decision to select FIX.NET Server. As Renaissance Capital runs its business on Microsoft servers, FIX.NET’s Windows architecture facilitated go live just four weeks after the implementation project began.
Dennis Fulling, CFO of Renaissance Capital comments: “During our search we identified many FIX engines but the SolutionForge product stood out as clearly the best functional and business fit for our needs. We have currently implemented a certain part of what FIX.NET Server can do, but the technical set-up of the product and its flexibility will allow us to upgrade our FIX capability very quickly as and when required.”
Steve Wilkinson, founder and CEO, SolutionForge comments: “SolutionForge is delighted to be involved in the introduction of FIX at Renaissance Capital. The company’s operations in London, New York and Moscow are already realising the benefits that FIX messaging can bring – enabling faster, more efficient business, reduced costs and driving out inefficiencies in the trading process. As a company, we are optimistic about the prospects for the market in 2004 and there will be many more deals to come, as we are witnessing significant interest in FIX.NET Server, and our sell-side order management system, FIX.NET Trader.”
ENDS
NOTE 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 RENAISSANCE CAPITAL
Renaissance Capital (www.rencap.com) is the leading independent investment bank operating in the Russian financial market, serving both domestic and international clients. Since its founding in 1995, the company has raised over US$8 billion for Russian companies - more than any other financial institution - and has completed many high profile deals.
In February 2003, Renaissance Capital was voted the No.1 research house in Russia in the 2003 ‘Institutional Investor All-Europe Research Team’ survey. This is the first time that a locally based firm, rather than a satellite office or a joint venture of an international firm, has won this distinction in Russia. In addition, the team was awarded third place for EMEA strategy, the first single-country focused research team to be awarded a top three spot in a multi-country discipline in the 31-year history of the ‘Institutional Investor’ survey.
Contact: Leonid Ighnat +7 (0)95 725 52 27