Novia Financial, the new wrap proposition which launched earlier this year, is the latest distributor to join the EMX Message System via a FIX connection.
Going live on the EMX Message System in October 2008, Novia has just launched their wrap platform, placing their first trades through the EMX Message System.
Richard Denning, Operations Director at Novia said: 'I am really pleased to be working with EMXCo. They have a strong reputation in the market for delivering a high quality, efficient service for their client base. We have already placed a significant volume of deals through the service using our straight through processing engine. This reduces our administration work and provides a first class fully automated service to our customers.'
Max Wright, CEO of EMXCo said: 'Novia have created an automated service for their clients and we are delighted they have chosen the EMX Message System to help facilitate this. This year we have seen a fantastic number of new participants join the EMX Message System and this, together with continued support from our existing clients, has enabled us to continue to grow during increasingly difficult times for our industry.'
This year the EMX Message System has routed over 16.7 million messages through the system. This is an increase of over 19% on the same period in 2007.