Source: Macdonald Associates
Macdonald Associates announce that five banks based in Switzerland have signed up to the globalXtrade service.
GlobalXtrade offers a hosted connection to the SWX Swiss Exchange and virt-x markets.
The banks, who are going live between September and November, include Wegelin & Co. Privatbankiers, Privatbank Von Graffenried AG, Cornèr Banca SA and E. Gutzwiller & Cie, Banquiers.
Order routing is carried out via FIX, thereby enabling full STP. Each bank has their own order management system and FIX engine, proving the flexibility of the globalXtrade soluion.
This establishes globalXtrade with a diverse customer base, with a total of ten connected banks so far - based in Switzerland, the UK, Luxembourg and Dublin.
Connectivity is based on Macdonald Associates' xConnect connectivity product.
XConnect provides multiple interfaces to match a user's requirements. It uses QuickFIX as an embedded FIX engine, and can provide flexible interfaces via FIX, XML, MQ Series, JMS, Excel as well as a Java trading front end.