TransactTools introduces 'plug-n-play' financial messaging gateways
28 November 2005 | 1845 views | 0
TransactTools, the market leader in high-scalability, low-latency financial messaging solutions for tier-1 global institutions, announced today that its best-of-breed technology is now available for smaller-scale deployments in the form of plug-and-play messaging gateways called Connectors.
"It was obvious there was a big gap in the market," said Brian Gay, VP Sales at TransactTools. Our business to date has focused on global institutions at the top end of the market, and we count 17 of the world's 20 largest institutions as customers. But a big segment of the market has bought FIX engines that are far less functional and difficult to integrate and maintain, purely for cost reasons. Connectors target this market segment by delivering the same performance and intelligence of our enterprise TCM platform but in a simpler package and at a fraction of the cost of other FIX vendors' point-solutions. Because they are pre-configured, Connectors can be deployed almost instantly. Demand has been tremendous."
The launch of Connectors marks the evolution of TransactTools' product offering to address a broader segment of the market. Connectors are the first in a suite of complementary solutions from the company targeting firms outside of the global tier-1 enterprise customer base.
John Deuel, TransactTools Product Development Manager, explained, "The inspiration for Connectors came after we took a hard look at what firms in this market are trying to do. For instance, many companies need to bridge FIX and the various ESB architectures. We designed Connectors to do that, out of the box, with zero integration. While FIX engines require code and maintenance, Connectors don't. Return on a customer's investment is therefore much higher."
"Our platform has been road-tested for five years by the biggest and toughest customers in the marketplace," said Sam Johnson, TransactTools CEO, "We're very excited to now begin offering these specialized configurations that work out of the box for any type of customer, making our best-of-breed solutions available to the broader market and providing a much-needed alternative to the generic FIX engine."