New version extends capabilities of free service already used by over 500 firms worldwide
TransactTools has announced the latest release of its popular OpenFIX product. Since its introduction in late 2001, OpenFIX has become the industry standard for automated FIX compliance testing. Used by over 500 firms around the world, OpenFIX provides users with easy access to an automated testing server that is available 24x7, allowing them to send and receive FIX messages from their own systems to test basic levels of compliance with all released versions of the FIX protocol. Beyond just simulating counterparty order flow, OpenFIX validates individual transactions and workflows and allows users to see and analyze test results.
The latest release adds equity application-level tests for both buy side and sell side systems at no cost. Included are scenarios for orders, cancels, cancel/replaces, indications of interest, and notices of execution. These tests are in addition to the FPL-published session level tests, which have always been available at no cost. Additionally, expanded result tracking capabilities and on-line Help resources have been added.
TransactTools has been selected by the FIX Protocol Limited as an authorized certifier in conjunction with the Global Fixed Income Committee's Certification Program, which is currently under development. It is a natural progression for TransactTools to expand the capabilities of OpenFIX in conjunction with that program.
"We're excited to be working with FPL on the Fixed Income Certification Program, and are eager for its official launch," remarked Sam Johnson, President of TransactTools. "The success of OpenFIX has confirmed the industry's desire for access to test systems in order to validate a basic level of compliance with different versions of the FIX protocol. Custom extensions will always existâinnovative firms have always differentiated their offerings to customersâbut providing tools for testing basic configurations has tremendous value. We're happy to offer this service to the industry at no cost in order to encourage best practices and promote expanded use and acceptance of FIX."
OpenFIX is built upon the technology that powers ttCERT, the industry standard for automated trading partner testing and certification. Firms use ttCERT to create their own unique testing environment for trading partners, complete with proprietary customizations and business extensions they have built into their own trading systems. ttCERT customers include the worldâs largest broker dealers, exchanges, ECNs and asset managers.