CameronTec, the financial industry's leading provider of FIX infrastructure and connectivity solutions and wholly owned subsidiary of Orc Group, today announced Hamburg-based customer Berenberg Bank is migrating its CameronFIX engine to the Catalys FIX infrastructure solution.
Berenberg Bank is an established CameronFIX customer since 2005 and this latest agreement signed during Q1 2011 is based on CameronTec's subscription licensing model.
Catalys will provide Berenberg Bank with a highly adaptive and totally integrated FIX environment to address the complexities around managing its decentralized FIX infrastructure.
Berenberg Bank is Germany's oldest private bank with a large and long-standing private banking business in the competitive German market and additional operations in Switzerland, Austria and the UK. Its financial services include investment banking and asset management.
Carsten Paschilke, head of External Systems at Berenberg Bank says: "For a number of years Berenberg has invested in CameronFIX to meet the bank's FIX requirements and this has served us very well. Recognising however the additional capabilities available with Catalys for managing our business both in and outside Germany, we believe the migration will provide us with further enhancements to effectively provide better services. Greater speed and reliability will be a clear advantage when connecting to our various counterparties and exchange destinations."
"We are increasingly seeing compelling demand from mid-size and larger financial firms to migrate to a Catalys-based FIX ecosystem," says Max Colas, Chief Product Officer for CameronTec. "This appetite demonstrates the relevance of Catalys and the timing of delivery as firms position themselves for future growth."
"CameronTec is pleased to announce Berenberg Bank as our newest Catalys customer. With their clients representing many premium investors we look forward to delivering a solution that can readily handle the complexity around concentrated and long-distance electronic infrastructure within the European environment," says Michel Balter, Sales Director for CameronTec.