Macgregor reports sharp increase in FIX use for trading
20 May 2003 | 3421 views | 0
Boston-based Macgregor, a provider of buy-side order management software, says it certified 162 new broker FIX connections during April 2003 - a 25% increase over previous months.
Macgregor says on average it certified a FIX connection every working hour in April. Ten percent of connections during the month were for non-US trading.
Stephen Alepa, EVP, networks, Macgregor, says a typical client is now connected to 42 of their brokers via FIX and a third of clients (33%) are using FIX to trade outside the US.
"We even have a couple of clients now that are connected to over 100 of their brokers," he adds.
A total of 160 brokers are now certified on the Macgregor FIX Network, including 20 from Europe and seven from Asia Pacific. Eight ECNs and Alternative Trading Systems (ATSs) are also certified and available on the network.