Imported from previous forum
[ original email was from Tony Johnson - tony.johnson@cognito-europe.com ]
SolutionForge Adds Barbnet to FIX.NET Server 2002 Client List
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SolutionForge adds Texas-based Barbnet to growing global client base
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Barbnet utilising FIX.NET Server 2002 for FIX links to trade counterparties
17th March 2003 – London – SolutionForge, the UK-based provider of financial Straight-Through Processing solutions, has today announced that Barbnet, a Texas-based investment firm, has selected FIX.NET Server 2002, increasing SolutionForge’s penetration into the global marketplace for securities transaction messaging systems.
Quickly following last month’s news that SolutionForge has connected Orbis Group with Credit Suisse First Boston’s Advanced Execution Strategies (AES) (www.solutionforge.com/newsroom), this deal will see Barbnet take advantage of the full functionality of SolutionForge’s Microsoft-based system to transmit trade instructions via the FIX protocol to its trade counterparties.
Barbnet develops all its in-house systems in Microsoft’s .NET environment, which provides a perfect technical fit for FIX.NET Server 2002. FIX.NET Server 2002 will enable Barbnet to perform a greater quantity of trading via FIX as the XML capabilities within .NET allow full automation of the trading process. In line with the current standard at its North American counterparties, Barbnet will initially be utilising a solution incorporating version 4.0 of the FIX protocol. However, the flexible technology architecture of FIX.NET Server 2002 will allow version upgrades in a matter of seconds when required.
After considering a number of FIX engine vendors, Barbnet opted for FIX.NET Server 2002 because of its robust architecture and compatibility with the company’s IT infrastructure. FIX.NET Server 2002’s ability to receive XML documents and convert them into FIX messages to send across the wire proved to be extremely efficient. Clive Bode, Vice President, Barbnet, comments, “We found SolutionForge’s FIX.NET Server 2002 FIX engine very easy to integrate with our proprietary system and its flexible architecture allowed the project to be completed swiftly. The support we received from SolutionForge throughout the sales process and during the implementation was also first-rate.”
Steve Wilkinson, SolutionForge’s founder and CEO, adds, “Barbnet is a significant new client for SolutionForge and signals another important step into the American market. Our signing of Barbnet demonstrates that not only is our product incredibly flexible and robust, but so is our technical support. This support is an integral part of our service offering and we successfully provide our growing global client base with support in their local time zone. 2002 was a good year for SolutionForge but we are looking to improve on that performance in 2003.”
ENDS
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.