Source: MacDonald Associates
Erste Bank, Austria has gone live using xConnect as a central FIX connectivity hub.
xConnect builds a bridge between multiple internal systems and the outside world.
Bloomberg and Reuters ROR conformance tests have been completed and the first customer is already live. It is also possible to connect directly using Erste Bank's own rules of engagement.
FIX versions 4.0, 4.2 and 4.4 are supported and other flavours are available on request. Initially trading will be in equities but this will later be extended to other asset classes.
xConnect was tailored to interface with Erste Bank's OMSs – proprietary as well as externally supplied - via FIX. It will also be used as a FIX connectivity hub, routing orders between Erste Bank's sister banks in Central Europe.
The project design, development and installation was carried out for a fixed price. An early test bed was created using XLFiX to provide repeatable test cases.
"We are very pleased that Erste Bank chose xConnect as their central connectivity solution. During the course of the project, we have built up a good working relationship with their IT team, and look forward to this relationship continuing in the future," said George Macdonald of Macdonald Associates.
xConnect runs as a J2EE application under JBoss with QuickFIX/J as a central FIX engine. QuickFIX is a widely used, open source FIX engine.