Macgregor FIX network adds international order routing

Macgregor FIX network adds international order routing

Boston-based trading technology vendor Macgregor has extended its US FIX network, MFN, to support international order flow from European markets.

Clients are currently able to electronically transmit international orders via MFN from the Dutch, Finnish, South African, UK, Spanish, Italian, French, Swiss and German markets. As of November 1, Macgregor has 15 financial institutions trading internationally over MFN.

Fully integrated into Macgregor’s trade order management system (OMS), MFN provides institutional clients with immediate connectivity to 115 brokers and every major ECN. The network extends the functionality of the OMS by connecting the buy side to the sell side, providing increased access to liquidity as well as enhancing the speed and accuracy of the investment process, says the vendor.

Lauri Krulis, senior business system analyst at T. Rowe Price, says: "Currently our Baltimore traders are using MFN extensively and we are looking to implement the use of international order routing on our London and Hong Kong trading desks in the near future."

Jim Leman, managing director, global electronic trading and connectivity, Salomon Smith Barney, comments: “We are pleased MFN has extended their service to include UK and European markets. This further increases our institutional clients’ ability to trade with us electronically."

According to Stephen Alepa, EVP networks & e-markets at Macgregor, the company will continue to expand global coverage via MFN.

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