22 May 2015

IEX signs for VeriFIX

21 May 2014  |  859 views  |  0 Source: CameronTec Group

CameronTec Group, the global standard in financial messaging infrastructure and tools for the Capital Markets industry, in association with recently acquired Greenline Financial Technologies, today announced new trading venue IEX has utilized VeriFIX to facilitate technology operations critical to fast deployment of its innovative trading platform.

IEX is the first registered alternative trading system funded exclusively by mutual funds, hedge funds, family offices and individuals, representing a cross-section of traditional investors.

By any venue standard, IEX has been quick to launch and fast to grow. On April 28, 2014, IEX matched 86 million shares, a 127% increase from the daily average in March, and a figure that has already surpassed four of the 12 American Exchanges by that date, including the NYSE MKT, the Chicago Stock Exchange, the National Stock Exchange, and NASDAQ PSX.

"As a market center, IEX shoulders high expectations for reliability. Asset-managers, our subscribers, and our partners in clearance and trade reporting rely on us for quality and consistency of experience. We constantly test our system's robustness. VeriFIX has been an invaluable partner in providing the tools and environments to test real world situations," said Rob Park, Chief Technology Officer for IEX Group. "VeriFIX was certainly a key contributor not just for our go-to-market strategy but for the ongoing evolution of our marketplace."

Josh Tolman, Deputy CEO at CameronTec Group says VeriFIX proved to be a critical platform tool for IEX from the start: "Pre-launch, we were able to work very closely with IEX to simulate and test the trading environment and identify plus fix any behaviors that could prove challenging."

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