SIBOS, Atlanta, Georgia: Monday October 11, 2004 - Cameron Systems, the
leading provider of Financial Information Exchange [FIX] protocol Engine solutions, today announced at SIBOS in Atlanta the release of CameronFIX NetTrader; a solution developed specifically for both Buy-side and Sell-sides to provide an easy-to-use, browser-based order entry solution for enabling the sending and receiving of message trades via the FIX protocol.
CameronFIX NetTrader provides a first step to the world of FIX for Buy-side and Sell-side with limited IT knowledge and resources required. NetTrader comes as a stand-alone product or can be installed as an option with the CameronFIX Universal Server.
CameronFIX NetTrader allows Buy-side institutions to manage order flow via a single browser interface, and enables connectivity to all leading FIX VPN and network providers. An easy to use and install fully functioning order entry screen, NetTrader provides Buy-sides with functionality for receiving indications of interest, sending orders and receiving executions.
Sell sides will also benefit with NetTrader’s out-of-the-box, rapidly deployed order entry screen for capturing and executing trades via the FIX Protocol, with capability for sending advertised trades and IOI’s, and receiving/executing orders.
Cameron Systems Chief Technology Officer, John Cameron, explains:
"CameronFIX NetTrader is an ideal first step to using the FIX protocol with an order entry solution that doesn’t require a lot in the way of IT knowledge and resources. Most will find it relatively easy to install, run and maintain. In the end, not a lot of effort for a reliable solution that provides real business benefits."
Glenn Cruickshank, Sales Director for Cameron Systems adds, "CameronFIX NetTrader has been developed based upon market feedback and demand for a low-cost entry level FIX solution. NetTrader provides this for both the buy and sell side with the opportunity to upgrade to Universal Server in the future therefore providing a scalability and Investment Protection."
Macquarie Securities first to market with CameronFIX NetTrader:
"CameronFIX NetTrader has proved to be a robust and easy to use web-based, screen order entry application with no client side installation required," said Trevor Hare, Associate Director, Macquarie Securities. "Macquarie first implemented NetTrader to provide a means of entering IOIs and Advertised Trades for markets and/or offices that do not have a full blown order management system in place. Later we utilized the product's ability to capture FIX orders and return execution reports to Buy-side institutional clients."
Hare continues: "Macquarie are currently looking at several other potential uses for NetTrader including providing a backup order capture mechanism; for example where an OMS is down, and displaying FIX orders that do not meet our processing rules or do not have enough information to be routed to an appropriate destination."
The CameronFIX NetTrader solution is currently being demo’ed at the Cameron Systems booth during SIBOS — October 11 – 15. Stand # F104.