TNS and FIXML Flyer team for ASP-based FIX trading gateway

Source: Transaction Network Services

Transaction Network Services, a leading provider of business-critical network and data communications services for transaction-oriented applications, and New York based FIXML Flyer today announced an agreement to unleash the full promise of an advanced, browser based FIX application for electronic trading with financial industry participants no matter how large or small by creating a gateway to the TNS extranet.

"Our new ASP electronic trading service called FIXtp creates a new class of hosted FIX services for buy-side firms," said Brian Ross, chief executive officer of FIXML Flyer.

"Users can now load pre-trade, trade, and post-trade files via a browser or ftp, automatically convert them to FIX and stream them as FIX messages to their broker over TNS' Secure Trading Extranet with the push of a button. With our hosted FIX service, firms no longer need to spend time and money licensing, implementing, and supporting a buy-side FIX engine.

"There is no longer a requirement for buy side FIX programming or for a senior buy-side employee to understand FIX. Thousands of counterparties can now be serviced through one managed FIX session. FIXtp provides firms with the power of FIX enabled electronic trading that is easy to setup, easy to access and is tremendously cost effective for all asset classes," said Ross.

Alan Schwartz, executive vice president and general manager, Financial Services Division, TNS, added, "Flyer and TNS share a vision for a future in which feature-rich electronic trading platforms are fully accessible to large, mid-sized and small financial participants. We are honoured that Flyer's industry respected management team recognised the synergies and benefits of working with TNS. Flyer customers will gain excellent speed and security by sitting within our resilient core facilities."

FIXtp is built on top of Flyer's FIX engine which is an advanced implementation of the FIX (Financial Information Exchange) protocol, the globally recognised messaging standard for real-time electronic securities transactions. Flyer's FIX engine is already in service at Flyer's financial customers and FIXtp is now rolling to new clients.

Ross added, "FIXtp also provides easy to use monitoring and exception reporting. Plus, FIXtp clients receive free FIX certification by FIXML Flyer."

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