FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets, announced today the availability of a new real-time interface to the Tokyo Commodities Exchange (TOCOM) using SierraLink's open API.
Now Japanese financial institutions using the Sierra Commodities solution will benefit from the new interface by being able to import futures and options trades from TOCOM to the Sierra system.
Exchange-traded futures and options instruments that are executed with the TOCOM exchange are now automatically imported into Sierra, updating positions in real-time via Sierra's Commodities blotter, as well as updating all the other portfolio management and reporting tools that are components of the Sierra Commodities solution.
SierraLink, FNX's sophisticated open API, is a fault-tolerant, high-throughput, event-driven middleware system. SierraLink permits easy, seamless integration of any or all components of Sierra System with third party and in-house legacy systems, facilitating straight-through processing (STP).
The SierraLink interface comes with an array of security and monitoring tools, which allow users to identify and correct erroneous transactions, duplicated or missing data. The SierraLink monitor, for example, allows users to see the exception transactions and to correct, accept or reject transactions right there, supported by a full audit trail that records all the events. SierraLink offers significant cost saving as failed trades are extremely costly to fix.
Conor Doyle, managing director of FNX Tokyo comments: "The TOCOM interface has proved to be of tremendous value. It has allowed real-time position keeping and risk monitoring, and eliminated the dual entry of data, reconciliations and end-of-day position updating, which was not previously possible. The interface was developed by FNX for Sumitomo Corporation and has proved to be extremely reliable in handling high transaction volumes since it has gone live." Sumitomo Corporation uses the Sierra Commodities full STP solution for the trading and processing of precious and base metals, soft commodities and energy instruments.
Farid Naib, FNX's CEO and founder added: "Since its inception, SierraLink has been a major success for FNX. We can easily connect to virtually any exchange, clearing institution, rate fee provider or system in the industry. I am proud to add the interface to TOCOM to our list of more than 100 ready to plug-in interfaces."