Leading web-based FX trading platform will increase efficiency and reduce costs using a HelioGraph STP solution for netting, confirmations, matching and notifications New York and London, 27th November 2001 – HelioGraph, specialists in financial messaging technology, announced today that FX Alliance (FXall), the leading foreign-exchange trading platform, is implementing HelioGraph
technology to provide important new business benefits to its customers.
FXall provides a secure Internet portal offering customers real-time foreign currency trade execution, access to research, and straight-through processing facilities. The portal is implementing HelioGraph’s Helio Message Broker
and Helio TradeFlow products to enhance and expand post-processing technology for its customers, including major banks and corporations.HelioGraph’s platform will allow FXall to further enhance its full STP suite of products, which was implemented earlier this year. FXall – which is the only portal to provide fully automated pricing for 20 fully integrated banks – is now implementing HelioGraph’s SWIFT Ready Gold accredited application integration solution, Helio Message Broker® and its STP platform, Helio TradeFlow.
Helio Message Broker is HelioGraph’s middleware platform, allowing routing to multiple destinations based on rules with limitless complexity, and supporting all industry standards including SWIFT, FiX, GSTPA and Oasys. Helio TradeFlow combines a matching engine, ETC (Electronic Trade Confirmation) and ETS (Electronic Trade Settlement) components to form a complete STP solution to manage the entire post-trade process.
Jack Lemonik, Chief Technology Officer, FXall, said, "This is great news for FXall’s customers. HelioGraph’s cutting-edge technology will allow foreign exchange participants to do quicker, more efficient, and cheaper trading through FXall’s portal. Using the HelioGraph TradeFlow engine,FXall will add post-trade matching, netting, confirmation,settlement instructions and notification capabilities.
Furthermore, HelioGraph enables FXall to conform to industry standards, including FIX and SWIFT. HelioGraph’s technology is a perfect fit for FXall."
One of the factors in FXall’s choice was the fact that HelioGraph products support the new ISO15022 S.W.I.F.T. message standards by way of a flexible data field dictionary architecture, and that Helio Message Broker is SWIFTReady Gold accredited. ISO15022 messages have been live on the S.W.I.F.T. network since 17 November 2001 and, as of November 2002, messages types which have been
upgraded to ISO15022 will no longer be supported in their previous guise,
"As the entire securities industry moves towards shorter settlement cycles, the crucial role of FX trading in cross-border securities transactions is sometimes overlooked.
Innovative initiatives such as FXall’s FX trading platform provide a vital service to the industry as a whole. " Comments Amery Thomas, CEO, HelioGraph "We are delighted to be working with them on this project."