IBSN releases Saxess translation toolkit

IBSN releases Saxess translation toolkit

US financial software house IBSN has developed an XTP protocol translator for firms executing trades via the OM-developed Saxess exchange trading system.

Saxess uses the Xpress Transport Protocol (XTP). Firms that use FIX and other protocols for their financial transactions need a way to translate information to XTP and back again.

"IBSN's XTP translator has the flexibility to be used to connect with any Saxess-based system," says Candyce Edelen, vice president of business development at IBSN. "For example, if a company wants to connect to the London Stock Exchange or the Minneapolis Grain Exchange, they can use our XTP translator to quickly connect and better utilise their in-house resources."

She says companies typically take four to six months to write inhouse interfaces to Saxess systems.

IBSN is the provider of the ADF FIX Translation Facility, a service bureau that enables firms to use the FIX format when connecting to the NASD's Alternative Display Facility (ADF). The Saxess release marks the first time the XTP translator from IBSN has been made available for companies to use inhouse.

Comments: (0)