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Flyer FIX Certified with the Borsa Istanbul

Enables Global Trading Infrastructure for DMA in Turkey 

FIX Flyer, a leading provider of global connectivity software and services infrastructure for institutional electronic trading, announced today that the Flyer FIX Engine and Risk Controls Gateway for Direct Market Access equity trading has been certified by the Borsa Istanbul. The solution allows brokers to support high speed electronic trading and proven risk control practices.

FIX Flyer provides a Direct Market Access (DMA) gateway that converts internationally accepted versions of the FIX protocol into the Borsa Istanbul’s FIX 5.0 API with the lowest latency possible. In addition, FIX Flyer provides risk controls tailored to the cash equities markets, based on the same F1 technology used to satisfy SEC 15c3–5 rule in the US market. Other important items that FIX Flyer solves for the broker to make it seamless to plug into the FIX standard:

  • Average Price and CumQty computation
  • ClOrdID, OrigClOrdID, OrderID standardization
  • Management of special account tags
  • Cancel and Cancel Replace workflow standardization
  • Speed regulation throttling control

FIX Flyer is working to provide DMA access to the Borsa Istanbul’s derivatives markets.

“FIX Flyer is committed to providing the best DMA platform in Turkey, making it possible for brokers to enable new services for algorithmic, high frequency, event and program trading internationally,” says Brian Ross, CEO of FIX Flyer. “By going FIX, brokers can easily plug into the entire world’s capital markets.”