Greenline Financial Technologies, a leading provider of electronic trading marketplace solutions, today announced its partnership with Saxo Bank, the leading global online foreign exchange (Forex) trading platform, to deliver Greenline's suite of testing, certification and monitoring technology with full support from Greenline's Professional Services team.
Saxo has been using Greenline's products since May 2012. This partnership now represents a mutual long-term commitment to support Saxo Bank clients with a comprehensive solution that provides robust and reliable trading technology.
Greenline's product suite covers the full technology lifecycle. Its VeriFIX solution is the industry's leading automated testing tool for both FIX and proprietary protocols. Saxo Bank increased the scope and quality of its automated testing environment with functional and regression testing, thereby reducing costs by minimizing errors and accelerating time to market. The client on-boarding process is automated and streamlined using Greenline's CertiFIX, a web-based certification automation tool. Once technology is installed with Greenline's MagniFIX, Saxo Bank can track trading activity in all regions and time zones, providing detailed oversight of trading activity.
Greenline's Professional Services team ensured effective implementation and support targeted to Saxo's needs through collaborative delivery. Services included an overall automation testing framework including VeriFIX implementation and best practices, CertiFIX scenario build-out, and custom MagniFIX reporting extensions for business level insight into operational flow.
"Saxo Bank is at the forefront of providing advanced trading technology for its clients. Our competitive edge is the ability to operate premier, award-winning technology that meets the demands of the global Forex market. Greenline's complete suite of testing, certification and monitoring solutions is an ideal fit for our global trading operations. The Professional Services team has provided invaluable expertise and development work across our business. The long-term partnership with Greenline offers significant cost and time savings across various technology projects in the firm," said Kurt vom Scheidt, Chief Operating Officer, Markets, Saxo Bank.
"We are very pleased to partnener with Saxo Bank, which is a global leader in online trading across the financial markets. Our suite of technology solutions is ideally suited to this type of partnership. We can deliver cost savings for Saxo across all of their trading technology systems through rigorous testing and automation, streamlining of processes and robust monitoring on a global basis. With ongoing support from our Professional Services team, we can ensure that Saxo's clients benefit from our deep expertise in trading technology," said Josh Tolman, President, Greenline Financial Technologies.