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TwoFour delivers FIX connectivity; reports new contract

09 October 2006  |  1824 views  |  0 Source: TwoFour

TwoFour Systems today announced the addition of its Financial Information eXchange (FIX) Engine support to the TwoFour Trading Platform, a global, cross-product 24/7 transaction processing system for the financial services industry.

This new functionality provides TwoFour clients with real-time access to external transaction data using an industry standard information exchange protocol.

FIX Engine data is fed directly into the TwoFour Trading Platform using the system’s Interface Mapping Tool, an innovative Windows-based configuration tool for quickly and efficiently linking in external data sources. The Interface Mapping Tool defines how incoming and outgoing data is managed by TwoFour's adapter-based information gateway. All incoming data is processed identically to transactions entered directly into the TwoFour system, using the same workflow-based rules and business objects to ensure data integrity.

TwoFour's Interface Mapping Tool simplifies overall deployment of the TwoFour Trading Platform, resulting in faster time to market and lower implementation costs. FIX Engine support further speeds the process by standardizing and streamlining integration with existing systems. The Interface Mapping Tool can be used to receive live transaction information or to convert data from legacy systems. TwoFour also supports direct data entry and feeds from databases, XML and flat file exchange.

Separately, TwoFour Systems, is proud to announce that a US bank with a growing international presence has licensed the TwoFour product as its global FX and Money Market front to back office processing system.

TwoFour will support their trading rooms in the United States and Asia with its cross product trading solution.

John Feeney, head of product development at TwoFour states, "TwoFour's flexible, workflow based application provides an integrated front to back office solution. This is the first client that will utilize TwoFour's SWIFT messaging functionality. In addition, they will track customer credit, position limits and country exposures using TwoFour’s limit monitoring capabilities."

The bank was looking for a robust solution from an experienced provider that would significantly lower their annual costs. TwoFour Systems Managing Director Chris Davis, said, "This licensing of TwoFour is a significant win for us. The bank evaluated many other providers in this space and chose TwoFour. This license adds to TwoFour’s expanding position in the Banking, Brokerage and Corporate sectors of the financial markets."

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