FIX Flyer, an innovator in trading solutions for Wealth Management, announces today that demand for post trade allocations processing for fixed income, in addition to equities, has grown dramatically in 2009. Wealth Management firms are demanding increased automation and trade away processing to multiple sponsors, giving them unprecedented transparency and efficiency.
Flyer Trading Network has expanded to support fixed income so that new clients such as Financial Counselors, Inc., Bradford & Marzec, and twelve others can realize the full promise of automated electronic trading without getting locked into another rigid OMS with excessive network charges. In addition, FIX Flyer has another 30 portfolio managers that are going live, pending certification.
“We are very excited to deliver a unified and integrated platform to the fixed income trading community,” says Brian Ross, CEO of FIX Flyer. “Giving the buy side transparent and efficient ways to get integrated to sponsors ultimately translates into savings that flow straight to the bottom line.”
FIX Flyer supports fully electronic step out and trade away functions in order to keep track of account relationships through allocation instructions. In addition, acting as a universal translator, FIX Flyer converts orders and fund allocations sent by the asset manager into the sponsor’s systems and into their own native format or using standards such as FIX. Flyer also normalizes street side information to provide a single automated end-of-day process from the manager to their sponsors.
FIX Flyer allows portfolio managers to streamline allocation end of day processing to their sponsors, reducing settlement risk, minimizing errors while eliminating faxes, phones and emails. Flyer eliminates the need for sponsors to support and integrate to different vendor formats and ftp sites. Both the sponsor and the asset managers benefit from superbly efficient operations, completely managed by FIX Flyer’s support team.