ADP Wilco has released a FIX messaging interface for its UK and cross border retail processing platform, Tarot, allowing retail brokerage users to connect to front office systems using the industry standard protocol.
The interface provides automated real-time two-way FIX message processing for straight orders and portfolio rebalancing transactions, and matches outbound and inbound messages with a common reference. It can also connect through a common API to any FIX-compliant fund management or trading system and provides message reconciliation, multi-fills and splitting.
Orders received on Tarot can be routed directly to the appropriate retail service provider (RSP) or order book for execution.
Amanda Fisher, ADP Wilco's product manager for Tarot, says: "FIX continues to emerge as a standard, helping to reduce costs and increase ease of implementation."