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Alpha Omega Announces Global Launch of FIXAffirm

First Comprehensive Post-Trade Solution based on Industry Standard FIX Protocol

Alpha Omega Financial Systems, a firm active in the post-trade technology arena, has released its flagship FIXAffirm product, which it says is the first comprehensive post-trade solution for the investment management industry based upon the industry standard FIX protocol.

Available in both enterprise and hosted versions with global FIX connectivity, FIXAffir directly connects asset managers and counterparty broker/dealers to deliver fully automated allocation, confirmation and affirmation of trades immediately after trade execution. FIXAffirm makes the post-trade process much more efficient and cost effective for asset managers, hedge funds and broker/dealers, says the vendor.

“Leading asset managers and broker/dealers are spearheading the adoption of the FIX protocol for post-trade in order to benefit from lower costs and better integration with trading systems,” said Ignatius John, president of Alpha Omega. “FIXAffirm facilitates this adoption by offering an off-the-shelf solution that integrates seamlessly with either in-house or third party order management systems.”

Early adopters of FIXAffirm include a top global asset manager and leading broker/dealers claims the vendor although it is not revealing the names. Additionally, Linedata, the global solutions provider to investment managers, has formed a partnership with Alpha Omega to enable clients of its Linedata Longview system to achieve Straight Through Processing (STP) between their front, middle and back offices, which should extend the reach of the new launch.

“We are very pleased with the performance of FIXAffirm and confident in its ability to deliver near real-time post-trade processing,” remarked Kamal Duggirala, chief executive officer (CEO) of Alpha Omega. “Our clients are already achieving a significant reduction in post-trade costs, which ultimately adds to portfolio returns.”

FIXAffirm is designed by industry experts with more than 50 years of combined experience in portfolio management and trading technology, claims the vendor, citing the president John and CEO Duggirala, as well as managing director, Bill Hebert. Key capabilities include:

  • Coverage of global equities, ETFs and fixed income securities.
  • Reaches brokers worldwide through established global FIX networks.
  • It is capable of matching Standing Settlement Instructions (SSI) between asset managers and counterparties.
  • Enables asset managers to specify tolerances for matching on a field-by-field basis.
  • Provides intraday processing, so errors can be fixed on trade date.