The interface provides fully automated real-time two-way FIX message processing for straight orders and portfolio rebalancing transactions, and matches outbound and inbound messages with a common reference. It can connect through a common API to any FIX-compliant fund management or trading system and provides message reconciliation, multi-fills and splitting.
Orders received on Tarot can be routed directly to the appropriate Retail Service Provider (RSP) or order book for execution.
Amanda Fisher, ADP Wilcoâs product manager for Tarot said: "FIX continues to emerge as a standard, helping to reduce costs and increase ease of implementation. Its increased adoption within the industry is now impacting and benefiting retail brokers and service providers."