Source: TransactTools
TransactTools is pleased to announce immediate availability for FPL Fixed Income Certification testing. TransactTools has been selected by the FIX Protocol Limited as an authorized certifier in conjunction with the Global Fixed Income Committee's Certification Program.
TransactTools is providing the capabilities as an extension of its free OpenFIX testing service (http://www.openfix.net). Since its introduction in late 2001, OpenFIX has become the industry standard for automated FIX compliance testing. Used by over 500 firms around the world, OpenFIX provides users with easy access to an automated testing server that is available 24x7, allowing them to send and receive FIX messages from their own systems to test basic levels of compliance with all released versions of the FIX protocol. Beyond just simulating counterparty order flow, OpenFIX validates individual transactions and workflows and allows users to see and analyze test results.
This first FPL release provides capabilities for all required pre-trade and trade tests for buy-side and sell-side organizations for Treasury Bonds as defined by the Fixed Income Certification Working Group. This functional coverage complements existing capabilities for session level tests and equity application level tests already available on OpenFIX. TransactTools will add coverage for additional security types as well as post-trade tests over the next few months in coordination with the working group.
Cydney Berry, VP Professional Services at TransactTools, said, "TransactTools continues to provide market leadership to ensure the adoption of best practices and to promote the expanded use and acceptance of FIX. We were able to bring this service to market very quickly due to our experience, our superior products and our rapid implementation capabilities. We are very pleased to be working with FPL in bringing this long-overdue service to market."
OpenFIX is built on ttCERT, the industry standard for automated trading partner testing and certification for over three years. Firms use ttCERT to create their own unique testing environment for trading partners, complete with proprietary customizations and business extensions they have built into their own business applications. ttCERT customers include the world's largest broker dealers, exchanges, ECNs and asset managers.