Gissing Software and Fingertip Developments deliver STP for ICMA's TRAX

Source: Gissing Software

Gissing Software, a leading supplier of software and services for real-time trading, today announced it has entered into an ongoing partnership with Fingertip Developments, software specialists for the financial markets, to deliver straight through processing (STP) for the current and future functionality of the International Capital Market Association's (ICMA) service, TRAX.

Gissing Software and Fingertip Developments have been working together to supply Moscow Narodny Bank Limited (MNB) with Gissing Trade Capture and Fintracker, to enable STP. MNB operates the combined solution to support its use of TRAX, which matches trades between counterparties and forwards trade details to the appropriate regulatory bodies. By combining technology from Gissing Software and Fingertip Developments, MNB has a high-performance, robust and reliable platform on which to complete its reporting and support its bond business. MNB will continue to receive these benefits once ICMA's extended functionality is introduced.

ICMA's upgraded TRAX ORC trade matching and regulatory reporting service, due out in 2007, will introduce two new messaging formats, ISO 20022 and ISO 15022, replacing TRAX Series 6 messaging. Gissing Software has worked with Fingertip Developments to ensure that Gissing Trade Capture and Fintracker provide an STP solution which is capable of handling the new messaging formats.

Gissing Trade Capture provides a seamless real-time interface from multiple ECNs and ATSs. It links trades completed on those systems with internal or external systems ensuring the trades are directly integrated into back office systems. Fintracker is an automated trade entry and receipt interface that allows clients to send trades directly from any number of trading systems to ICMA. The combination of technology from Gissing Software and Fingertip Developments creates an STP solution which is Microsoft Windows based; and therefore ensures easy implementation, low maintenance and a high return on investment.

Steve Humphries, Senior Manager, Operations, MNB, said: "TRAX is integral to our business operations, by using a combined solution from Gissing Software and Fingertip Developments we have improved our STP and the man hours saved have been substantial. The technology from both companies works seamlessly and has proved to be reliable and stable. It will continue to deliver these benefits even after the proposed changes from ICMA."

Adrian Gumbley, Managing Director, Fingertip Developments commented: "Working with Gissing Software has ensured that we supply our customers with the very best technology available to support their use of TRAX. Gissing Trade Capture combined with Fintracker offers a unique and advanced product, unlike other solutions based on older UNIX or non Wintel architectures."

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