NEW YORK, June 17, 2003 â At the SIA Technology Management Conference, SunGard Business Integration, an operating unit of SunGard (NYSE:SDS), announced today the launch of the SunGard FIX Engine 5.0 with support for FIX 4.4 protocol and fixed income. Version 5.0 is an enterprise level version with robust connectivity and performance enhancements that support thousands of messages per second. It is designed to enhance efficiency for broker/dealers and investment managers by transparently connecting them to external partners via the FIX protocol.
The SunGard FIX Engine has been designed as a stand-alone application or as an adapter to SunGard Business Integrationâs MINT Knowledge Broker for more complex straight-through processing (STP) integration requirements. It is suited to small as well as large organizations. The SunGard FIX Engine helps financial services institutions to manage large order flows more efficiently, reduce operational risk and cost, and improve efficiencies for real-time execution information and settlement.
Responsible for all communications and session-level management, the SunGard FIX Engine allows applications to concentrate on the business logic. The SunGard FIX Engine is capable of connecting over various networks, ECNs, and exchanges such as the SunGard Transaction Network, BRUT ECN, and SWIFTNet. Through the MINT Knowledge Broker, the SunGard FIX Engine also connects to Omgeoâs OASYS Direct, OASYS Global Direct, and other financial networks.
Key features of SunGard FIX Engine 5.0 include:
- Support for FIX 4.4 protocol which supports Fixed Income
- Support for all FIX versions
- FIXML-enabled for interoperability with diverse systems and platforms
- Connectivity via various networks including SWIFTNet
- Built-in connectivity for IBM WebSphere MQ (formerly MQSeries) and MSMQ
- Easy single view monitoring and control operator user interface
- Full on-line configuration including automatic scheduling of Begin/End Of Day
Current users of the SunGard FIX Engine include Yamner & Co. Inc., Trade Manage LLC, and Turning Point Securities.
The SunGard FIX Engine is also an integral component of the SunGard Transaction Network, which facilitates straight-through processing between asset managers, brokers, ECNs, exchanges, banks, settlement agents and custodians. Paul Schneider, group chief executive officer of SunGard Financial Networks, commented, "The SunGard FIX Engine is a foundation for interoperability and is a robust integration solution for end-to-end STP."
Janet Lewis, managing director of SunGard Business Integration in the U.S., commented, "The SunGard FIX Engine has the SWIFTNet Ready FIX Service Label. It can be integrated with SunGardâs best-of-breed order management system, Decalog, or with SunGard Business Integrationâs MINT Post Trade Solutions, to create true end-to-end STP, from the front-office to the back-office. We have seen increasing interest in FIX from both high-end organizations and from the small- and medium-sized players, covering all instrument types, including equities, fixed income, and derivatives. SunGard is dedicated to providing a comprehensive FIX Engine solution."