Volante Technologies today announced its expansion in the foreign exchange messaging world with the availability of high-speed integration technology for price data from the Currenex ESP, as well as an integration model for the CLS settlement environment.
Originally developed to integrate Currenex Executable Streaming Price (ESP) data into the low-latency data management architecture of a major Wall Street bank, this new Volante Designer Plug-in for Currenex supports the FIX 4.2 protocol native to the Currenex gateway. Beyond enabling simplified integration of the Currenex feed, it also incorporates inbuilt latency measurement.
The CLS integration model, designed for a major corporate treasury, provides a solution for linking trading and accounting systems to the global currency settlement system of CLS Bank. Comprised of integration modules, including full support and validation routines for SWIFT messages for treasury markets, as well as frameworks for transaction tracking, repair and oversight, the model provides a rapid and cost-effective route to implementing CLS-based settlement, no matter how complex the background systems environment.
"We are pleased to extend Volante's well-known benefits to firms trading in currencies," said Vijay Oddiraju, CEO of Volante. "They need data linkages that offer low latency with extreme resiliency to data spikes, and rapid adaptability to changes in incoming data. This is what Volante brings to the table."
Separately, Volante Technologies today announced its partnership with QDBS of Mexico City, a consulting firm and developer of software for local and multinational banks operating in Mexico. QDBS is using Volante technology for integration of SWIFT and other messaging in customer projects, as well as a new software solution that will be launched later this year.
"The inclusion of Volante technology in QDBS solutions will save our clients time and money in dealing with complex messaging implementations," said Jose Luis Melgarejo, CEO. "Our clients have already found Volante's support of SWIFT messaging standards and validation to be a valuable feature for multinational payments. In addition, in a new contract with the Mexico subsidiary of a major global bank, we will use Volante for integrating Thomson Reuters Kondor+ for FX and money market trading with the most widely used core processing platform among banks in Mexico. This is an excellent beginning for the partnership."
QDBS's selection of Volante followed a review of competing vendors. Determining factors in the choice were Volante's flexibility to operate within any systems environment, its domain awareness of SWIFT messaging and other complex messaging types, as well as Volante's service support for partners.
"As an IT innovator with a leading market position in Mexico, QDBS is an ideal partner to introduce our data messaging technology to the country and the region," said Vijay Oddiraju, CEO of Volante. "We recognize that banks in Mexico have their unique challenges, which are well understood by QDBS. We look forward to working with QDBS as they develop advanced solutions for financial services automation."