Electronic trading using the FIX protocol first became established in the USA and is now a rapidly growing trend in the UK and the rest of Europe. FIX, as defined by a number of institutions, has established itself as the de facto standard for electronic trading and, in the last few years, apt has emerged as a leading FIX engine supplier.
"This will allow SimCorp clients to access deeper pools of liquidity and react quicker to volatile markets, whilst improving data quality and reducing failure rates downstream â a vital step to achieving true STP," says David Shobrook, sales and marketing director for apt.
aptâs commitment to FIX and STP attracted SimCorp to the partnership. "We selected apt as our partners after a thorough review of the market," explains John Mayr, sales and marketing director for SimCorp, "apt has an excellent track record and is one of the most established companies in this area. TMS2000âs total internal straight through processing capability combined with aptâs FIX engine, will take institutions closer to achieving complete straight through processing, both internally and externally."