Alpha Omega Financial Systems ("Alpha Omega"), an innovator in post-trade technology, announced today the global launch of its flagship product FIXAffirm, the first comprehensive post-trade solution for the investment management industry based on the industry standard FIX protocol.
Available in both enterprise and hosted versions with global FIX connectivity, FIXAffirm directly connects asset managers and counterparty broker/dealers to deliver fully automated allocation, confirmation and affirmation of trades immediately after trade execution. FIXAffirm makes the post-trade process much more efficient and cost effective for asset managers, hedge funds and broker/dealers.
"Leading asset managers and broker/dealers are spearheading the adoption of the FIX protocol for post-trade in order to benefit from lower costs and better integration with trading systems," said Ignatius John, president of Alpha Omega. "FIXAffirm facilitates this adoption by offering an off-the-shelf solution that integrates seamlessly with either in-house or third party order management systems."
Early adopters of FIXAffirm include a top global asset manager and leading broker/dealers. Additionally, Linedata, the global solutions provider to investment managers, has formed a partnership with Alpha Omega to enable clients of its Linedata Longview system to achieve Straight Through Processing (STP) between their front, middle and back offices.
"We are very pleased with the performance of FIXAffirm in delivering near real-time post-trade processing," remarked Kamal Duggirala, chief executive officer of Alpha Omega. "Our clients are achieving a significant reduction in post-trade costs, which ultimately adds to portfolio returns."