Both parties have committed to increase the penetration of FIX within the financial industry and believe that this offer brings the industry closer to electronic trading.
By reaching this agreement, SWIFT and NYFIX, an industry leading FIX engine provider, both are helping to lower the costs in the pre-trade/trade space and are complementing SWIFTâs positions as the industry standard in the post-trade/settlement space.
"SWIFT is constantly trying to help the securities industry realize the benefits of automation through electronic trading,â said Marcus Consolini, Global Head of Sales - SWIFTNet FIX. "By completing such agreements SWIFT is able to help our members lower the overall costs of implementing a FIX solution and thus come closer to making the whole life cycle of the trade electronic.â
âNYFIX is pleased to begin a strategic relationship with SWIFT and to bolster the FIX protocol in APAC,â said Andrew Wilson, Global Head of NYFIXâs FIX Products Division. âNYFIX is committed to working with valued partners such as SWIFT in order to continue making NYFIX products the standard in FIX infrastructure. We are looking forward to our growing success in APAC and our growing relationship with SWIFT.â