The National Commodities Exchange Limited (NCEL), in conjunction with Mixit, announced today that NCEL has selected the Mixit FIX platform including, Mixit FIX Interface and Mixit iFIX System (automated testing and FIX certification).
FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost efficient and timely manner. A significant portion of global liquidity is transacted over FIX based connectivity and the major stock exchanges and investment banks use FIX for electronic trading, as do the world's largest mutual funds and money managers and thousands of smaller investment firms.
NCEL is the first technology driven, demutualized, on-line commodity futures exchange in Pakistan. NCEL is committed to provide a world-class commodity futures trading platform for market participants to trade in a wide spectrum of commodity derivatives, driven by best global practices, professionalism and transparency.
"The adoption of FIX will allow NCEL to offer a globally accepted connectivity mechanism and significantly ramp up its international outreach with regional and international financial institutions" said Samir Ahmed, MD, NCEL.
"We are pleased to be partnering with the NCEL to deliver full FIX capabilities to their members and international partners," says Yusuf Jan, Partner & EVP, Mixit Inc.