16th August 2002 - London - SolutionForge, the UK based provider of class leading FIX engine technology, has today announced that specialist global investment bank, Fox-Pitt, Kelton Ltd (FPK), has purchased the recently enhanced version of its comprehensive FIX engine, FIX.NET Server 2002. FIX.NET Server 2002 will be used by FPK to provide a flexible, yet stable connection between FPK and the sales trading desks of the global broker-dealer's institutional clients. The system will provide quality connectivity and as well as serving clients' needs will improve STP throughout the trading process.
The selection of FIX.NET Server 2002 represents a significant move for FPK, being the firm's first FIX connectivity solution. Initially FIX.NET Server 2002 will be used within the London office. SolutionForge is also developing a link between its FIX engine and FPK's order management system (OMS). The connection will be achieved using Microsoft's BizTalk Server, which is easily integrated with FIX.NET Server 2002 as both systems are built on the Microsoft .NET platform.
Sumati Kumar, Director of Operations, Fox-Pitt, Kelton, says, "FPK is reviewing its strategy for processing trades from front to back office with the aim of making it more efficient while maintaining client services of the highest standard. Our selection of SolutionForge's FIX.NET Server 2002 is a direct result of this review and using the system will allow us to make sure our services match the best available in the marketplace."
She continues, "FIX.NET Server 2002 came highly recommended by colleagues in another large brokerage house and we have been very pleased with SolutionForge's approach, attitude and level of service. Another key factor in our decision is that FIX.NET Server 2002 is suited perfectly to our internal IT structure, as it is similarly Microsoft based."
Steve Wilkinson, SolutionForge's founder and CEO comments, "While many FIX engines claim to be able to cater for the needs of sell side, buy side and exchange users equally, this deal reinforces the fact that FIX.NET Server 2002 has the functionality, based on the stable and increasingly popular Microsoft .NET platform, to do just that. We are very pleased to add Fox-Pitt, Kelton to our growing client base."