Client certification and onboarding remains a complex challenge. Flyer makes it quick and simple.
Traders know that a client in the certification queue is a client not trading and not generating revenue. A client not generating revenue becomes a cost to maintain.
Flyer announces the launch of CertiFlyer, a solution that dramatically reduces the time to certify trading partners over FIX connections. CertiFlyer users get their connections trading faster. Certiflyer is a major step forward in machine based certification.
Faster Client Certification
Client certification continues to be a major source of delay bringing in new business. For many institutions, certification is a manual process tying up significant resources from all parties for even a simple workflow. In today’s competitive environment, every institution must adopt agile and automated FIX certification or face delays converting new clients into real revenue.
Flyer is pleased announce CertiFlyer, a tool that specifically closes the loop of disparate tools by providing both a simulation solution for your trading platform and a reporting system for certification. CertiFlyer dramatically reduces the time to certify and eliminates the need to schedule multiple time consuming three-party certification meetings.
CertiFlyer brings client certification clos to automated machine-based certification.
Continuous Quality Improvement
Now your clients can test whenever they want against a fully certified platform based on your custom business logic and your FIX rules of engagement without impacting critical resources. CertiFlyer operates 24/7 and automatically reports back to you on the client’s progress. The detailed report includes the pass/fail status of each FIX workflow required during certification per client. Changes (e.g., new algos, new workflows) can be pushed live for immediate feedback with no disruption to client connectivity, and testing results are archived.
CertiFlyer also monitors production sessions with a passive, zero-touch deployment. Running the same rules as in test/UAT, it continuously monitors live trading for rules of engagement violations. Get immediate, detailed reports of any variations in production, expanding the test window and providing extra assurances that certified clients behave the same in test and in production.
This extra layer of tests, records, and reports serves to reinforce due diligence and certification requirements that have become more stringent in light of regulatory initiatives like MiFID II. CertiFlyer is constantly confirming that timestamps are correctly applied, that notices of execution have the correct tags (which may be different per-client), and that defined workflows are followed, even after certification is complete. Clients are effectively constantly re-certifying.
Flyer’s pilot customers, who have deployed initial versions of CertiFlyer, have had dramatic results, reducing time-to-certification by as much as 80% (Read https://www.fixflyer.com/blog/a-new-paradigm-for-fix-onboarding). No client changes or integration is required, so CertiFlyer can be deployed quickly and transparently with zero impact.
The sooner you get a client certified and on board, the sooner that client generates revenue for you.
With over 120 clients worldwide, FIX Flyer develops advanced technology for managing complex, multi–asset securities trading using highly scalable software and network technologies. Clients include UBS, TD Ameritrade, Envestnet, GBM, Barclays, Berenberg Bank, Bank of America Merrill Lynch, Goldman Sachs, and JP Morgan as well as major exchanges like ASX and MexDer. FIX Flyer is headquartered in New York City with offices in Boston and Hyderabad, India. For further information, please contact [email protected] or visit us at http://www.fixflyer.com