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EFG Eurobank Securities Selects FIX.NET Server from SolutionForge for Real-Time Trade Processing

-FIX.NET Server provides 'out of the box' FIX connectivity to leading Greek institution.
- SolutionForge continues to commoditise the FIX engine market with a robust, flexible solution that is quick and easy to implement.

15th April 2004 - London - SolutionForge, provider of financial Straight-Through Processing solutions, today announced that EFG Eurobank Securities, a subsidiary of EFG Eurobank Ergasias, Greece's leading provider of consumer loans and credit cards, small business lending, SME lending and mutual fund management, has gone live with its Windows-based FIX engine, FIX.NET Server.

EFG Eurobank Securities will use FIX.NET Server to route order and execution messages to and from its trade counterparties using the FIX protocol, improving the organisation's operational efficiency by removing the need for manual re-entry of trade data.

By utilising Microsoft .NET technology, FIX.NET Server provides easy integration with the bank's current IT set-up, regardless of which platform it runs. The flexibility of .NET and FIX.NET Server also meant that EFG Eurobank Securities was able to fully implement the solution using in-house expertise, requiring little guidance from SolutionForge.

Dimitris Georgandas, IT-department manager, EFG Eurobank Securities, comments: "FIX.NET Server will enable us to process trades electronically, greatly improving our business automation and efficiency. In a period of sustained market uncertainty, it is important for us to make the right technology choices to enable us to take full advantage when things do improve."

Steve Wilkinson, CEO and founder, SolutionForge comments: "SolutionForge is committed to developing solutions, using the most advanced technology, to provide its clients with competitive advantage. Timeliness is an important factor in this and EFG Eurobank Securities was able to install FIX.NET Server straight 'out of the box', easily integrate it into their environment and set it to work. This means that EFG Eurobank Securities has already begun to see a return on its investment and a substantial improvement in its operations."