TransactTools is pleased to announce that Lehman Brothers successfully completed the FIX for Fixed Income Certification process using TransactToolsâ industry-leading OpenFIX.net FIX testing service on January 31. Certification covered pre- and post-trade processing of Treasury, Agency, and Corporate Bonds using the industry standard FIX protocol.
TransactTools was one of the original vendors selected by FIX Protocol Limited as an authorized certifier in conjunction with the Global Fixed Income Committee's Certification Program.
TransactTools is providing the capabilities as an extension of its free OpenFIX testing service (www.openfix.net). 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 FPL-sponsored program currently provides capabilities for pre-trade, trade, and post-trade tests for Treasury, Agency and Corporate Bonds. This functional coverage complements existing capabilities for session level tests and equity application level tests already available on OpenFIX. TransactTools will add additional coverage in coordination with FPL and based on feedback from the user community.
"Weâre very pleased to have our service validated in the marketplace by a industry leading firm like Lehman Brothers," said Brian Gay, VP Sales at TransactTools. "TransactTools hopes this program helps promote the expanded use of FIX, and ensures the adoption of best practices. We have built our reputation by providing market leadership in areas such as this, and were able to bring this service to market very quickly due to our experience and superior products. We are very pleased to be working with FPL in bringing this service to market."
OpenFIX is built on ttCERT, the industry standard for automated trading partner testing and certification for over three years. 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 business applications. ttCERT customers include the worldâs largest broker dealers, exchanges, ECNs and asset managers.