FED is a new front-end database application that enhances the service brokers give their clients. It enables client data to be exported from a firm's back office system to support the management of trading activities in the front office. The data is then returned to the back office for settlement and clearing at any time - daily, hourly or instantly upon the completion of a trade.

This saves the cost of developing and maintaining expensive interfaces with the back office system. Moreover it enables data to be enriched at the front end to provide the client with more comprehensive information, presented in an improved format. IB.Net2 includes an agent or broker login, to enable the firm's representative or investment manager to see the same view as their client, so they are able to provide a better service.

The new limit order system that has been incorporated into IB.Net2 enables a broker's client to enforce ‘stop loss' and ‘rising buys' onto their trading/dealing account. This can be particularly effective when used as part of a trading strategy, which can be developed in conjunction with a client's broker, or directly by an execution-only client pursing their own strategy. Providing clients with greater control of their dealing activity instils greater confidence and more trading opportunities, thereby encouraging increased deal flow.

An enhanced payment facility, improves security for both brokers and their clients. Transactions are now completed on the broker's own secure trading site, without clients having to go through a third party. This enables better valuation checks against the back offffice system and in so doing, increases security and reduces risk for both parties.

IB.Net2 also incorporates an expanded range of tradable instruments to include unit trusts and other collective investments. Employing straight through processing and utilising a FIX interface with EMX, funds are traded almost entirely automatically. This eliminates a considerable amount of routine manual processes. As a result staff only need to deal with exceptions, freeing them up to carry out more valuable tasks.

Other new features in the system include an increased amount of available portfolio data, such as book cost and real-time profit and loss; bulk and model trading; and enhanced support for white label developments.

"MBA continues to invest in its electronic trading application," explains Stephen Taylor, director at MBA Systems. "The latest version of IB.Net brings with it an even greater level of automation to the broking process, ensuring that it stays ahead of market requirements."