NEW YORK, November 16, 2004 - Today at the FPL Americas Conference in New York City, Aegis Software and B2BITS announced they are the first two vendors to complete cross-certification of the entire Fixed Income Certification Suite, as specified by FPL (FIX Protocol Limited) guidelines, and have submitted their results to FPL for review. Subject to FPL verification of the log files, the two vendors will be allowed to make their respective services available to companies seeking official FPL certification. The Certification Suite service will be available over the internet from each company's website.
The Fixed Income Certification Suite is a series of test cases and test scripts designed to validate the trading of fixed income securities using the FIX 4.4 protocol. The scripts cover the complete life-cycle of the pre-trade, trade and post-trade processes. Both buy-side and sell-side versions of the scripts are provided, covering the following Fixed Income products: US Treasuries, Agencies and Corporate Bonds. As mandated by FPL, Aegis and B2BITS have cross-certified their offerings and have submitted the results for verification by Brook Path Partners, the consulting services firm that developed the fixed-income
certification test scripts for FPL.
"We are very pleased with the result," said Norm Friedman, vice president at Aegis Software. "Of course there were some inconsistencies and issues to be ironed out, but given the fact that we were working across three organizations (Aegis, B2BITS and Brook Path), the process was relatively smooth. We strongly believe that the resultant services offered by Aegis and B2BITS will be very valuable to the industry, and it also bodes well for the future. Going forward, FPL-sanctioned certification efforts for, say, session level FIX, equities or foreign exchange will be much easier, given our experiences. Aegis will continue
to participate in these industry-wide efforts, which we feel are very beneficial".
"We have always been a strong supporter of the FIX protocol with such a reference implementation," said vice president of B2BITS, Alexander Mologoko. "The development and cross certification processes were non-trivial, intensive and iterative. Our close cooperation with Aegis and FPL has ensured a uniform interpretation of the protocol, and solidity within the certification platforms themselves. Certification will result in reduced implementaion times and a quicker adoption of the protocol within the Fixed Income trading community. We intend to remain very active in supporting the evolution of FIX, and have accelerated this with the launch of our FIX-based trading platform for treasuries and corporates".