TransactTools, the industry leader in enterprise messaging solutions for the financial industry, announced today that the number of FIX certification tests completed through its groundbreaking ttCERT service has surpassed a half-million.
ttCERT was introduced in 2001 as FIX adoption was starting to take hold, and leading firms needed a solution to automate the complex process of certifying electronic connections for production trading. It has since become the de facto standard for fully-automated FIX certification among exchanges, brokers-dealers, and tier-1 institutions. ttCERT improves trading efficiency by reducing trading errors and speeding time-to-market for new trading connections through automation of complex pre-production testing processes.
Built on ttCERT, OpenFIX is the industry's only free, public FIX testing service. OpenFIX offers an extensive range of testing scenarios for transactions and products including trade, pre-trade, and post-trade messaging for equities, fixed income, derivatives, and foreign exchange. TransactTools is the only participating vendor that has completed the FPL Fixed Income Certification process, certifying both Lehman Brothers and Charles River Development for fixed income trading. Interest in OpenFIX has grown quickly over the past year, with new OpenFIX users registering at the rate of one per day.
TransactTools CEO Sam Johnson commented, "Our business is about making customers more competitive with electronic trading, plain and simple. Since the launch of ttCERT, our customers have found that automating FIX certification provides a compelling return on investment: lower costs, improved testing reliability, and faster time to production. We provide OpenFIX to the trading community free of charge to encourage adoption of FIX across all asset classes. We're very pleased by how firms have embraced OpenFIX -- over 500 companies have executed nearly 100,000 tests to date."