Rapid Addition, the world leaders in trading technology, today announced that it has more than trebled the number of clients using u-Broker™, the firm's sell-side FIX execution management system (EMS), in less than six months.
The new clients using u-Broker™, part of Rapid Addition's u-Dealer family and built on Rapid Addition's FIX Cloud™ service, include clients in Turkey, Hungary, Israel, Egypt and the United Arab Emirates. The FIX Cloud™ service enables users to connect to counterparties on various FIX networks including Thomson Reuters' Autex, Reuters Order Routing, Izuka, LSE Hub and ITG Net.
u-Broker™ is Rapid Addition's web-based, lightweight EMS which connects brokers to multiple institutions and supports multiple asset classes, including equities, equity options and futures. Its 50 clients are able to accept and reject all orders from personal blotter screens, export data for automatic loading into third-party applications and receive FIX allocations from their counterparties. u-Trader™, a version of the application aimed at buy-side users, will be launched in 2011.
Guy Green, Product Manager of Rapid Addition, commented: "Hitting the milestone of fifty clients with u-Broker is firm demonstration that the market needed an order capture solution available in such a way that significant implementation costs could be avoided. Our ambition, to be a leading participant in the market, makes us highly dynamic and we have a clear strategic vision which will see further expansion in line with our clients' demands."