KBC Securities has purchased xNetik InterFix, the FIX processing engine from UK-based STP solutions provider Netik, in preparation for the launch next month of the new Euronext Stock Exchange system.
KBC currently handles over 25% of trades on the Brussels Stock Exchange and 20% of Easdaq trades.
The xNetik InterFix solution will provide the Belgian stockbroking firm with the facility to send and receive online orders in real-time to Euronext and other brokers using the FIX 4.2 standard. The solution will also ensure FIX message standards below version 4.2 can be handled and provide automatic conversion between FIX and swift message formats.
KBC has also licensed Netik's financial applications integration product, InterChange, to enable connectivity between xNetik InterFix and internal databases.
"We looked at several potential suppliers for this solution, but Netik was the only one who could offer us not only the functionality we wanted from a FIX messaging engine, but also plug-in integration capability, through xNetik InterChange," says Peter Marchand, head of IT at KBC Securities. "We are working to extremely tight deadlines."