Electronic agency broker Instinet has successfully upgraded 600 US FIX customers to a new trading platform using certification technology from TransactTools.
Instinet used ttCert from TransactTools to certify and connect clients to a new Direct FIX platform. The platform, offering both improved speed and new functionality, acts as a gateway to the Instinet Book, Instinet's SmartRouter, Instinet Global Crossing, Instinet's patent-pending Newport system, international exchanges and the working order desk.
Mike Healy, FVP and head of global FIX connectivity at Instinet says the year-long project required certification of many customers at once, on their own schedule. "The amount of testing required for this migration would have been problematic had it been done manually," he says.