OCC deploys Ascential software for FIXML processing

Chicago's Options Clearing Corporation (OCC) is using technology from data integration firm Ascential Software to convert its transaction data into FIXML format for distribution to its 130 member institutions.

  0 Be the first to comment

OCC deploys Ascential software for FIXML processing

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

OCC will use Ascential's DataStage Enterprise Edition package to transform its options data - including positions, trades, settlements and product data - into the FIXML format for distribution by its Encore clearing system.

FIXML is a version of the Financial Information eXchange (FIX) messaging protocol for real-time securities transactions data exchange.

The Ascential software extracts real-time data from a mainframe-based database system, converts it into the FIXML format and then sends processed information in real time to client organisations. Data from Encore will go directly to OCC's financial institution clearing members, trade sources/exchanges, regulatory agencies and other non-clearing firms.

Michael McClain, OCC's first VP and head, applications development, says: "Ascential Software will help Encore reach its goal of providing straight-through, real-time processing by the end of 2005."

Sponsored [New Report] The Future of European Fintech 2025: A Money20/20 Special Edition

Comments: (0)

[On-Demand Webinar] Can You Have It All? Integrating New Channels In A New World Of PaymentsFinextra Promoted[On-Demand Webinar] Can You Have It All? Integrating New Channels In A New World Of Payments