"FXall has always been at the forefront of automating foreign exchange workflow," says Jack Lemonik, FXallâs Chief Technology Officer. "Two years ago FXall began offering FIX services to major asset managers. To build on that success, we are working with the CameronFIX platform to deliver turnkey FIX connectivity in partnership with a number of leading OMS vendors."
Jack Lemonik, a founder member of the FIX Protocol FX Working Group and now Global FX Committee, has actively supported the development of FIX for the FX industry and is widely recognized for his valuable role in advancing the protocol for foreign exchange trading. This success has resulted in FXall taking a market leadership position to educate participants about the benefits of FIX as a protocol for FX trading.
CameronFIX provides FXallâs FIX connection option for QuickTrade and QuickFill. QuickTrade, FXall's market leading trading tool, provides automated prices in exotic currencies, the flexibility to direct large transactions to a particular provider or prime broker, and the ability to roll trades forward. QuickTrade is a request for stream system that allows a single FIX connection to 50+ major market makers. QuickFill is a multibank executable streaming product with a FIX interface. QuickFill gives traders continuous, multiple rate streams from FXall's liquidity providers, delivering instant execution with deep liquidity.
Further to this, FXall has automated the workflow process by internally linking the FIX and SWIFT protocols. Once a notice of execution is sent by FIX to an asset manager, FXall acts as a proxy to the asset manager and generates a SWIFT MT300 message which is confirmed by the bank. On confirmation, FXall then generates a notice to the custodian (MT304 message) on behalf of the asset manager.
Cameron Systemsâ President and Co-chair of the FIX Protocol Americas Committee, Martin Koopman, adds: "We congratulate FXall for supporting and pushing FIX for FX trading. Cameron Systems continues to demonstrate leadership in supporting the use of FIX across all asset classes as demonstrated by our work with FXall. We are excited about the potential for FIX in FX, particularly following FPLâs recent announcement for a Statement of Understanding between FPL, Twist and ISDA to push FX standards forward."
Cameron Systems recently announced the latest CameronFIX version 6.2 trading enhancements with solutions for risk and compliance, workflow management, advanced execution and networks/hubs.
CameronFIX provides support for all versions of the FIX protocol (v4.0 to v4.4), all supported instrument types and message types across the trade life cycle.
Cameron Systems is next exhibiting SIBOS in Copenhagen, September 5 â 9, stand # C273.