FIX Flyer, a leader in Financial Information Exchange (FIX) trading solutions, announced today that Placemark Investments, the investment industryâs largest independent provider of active overlay portfolio management services, has begun using FIX Flyerâs online service for trading and allocation management.
Flyer technology is an advanced application of the FIX protocol, the globally recognized messaging standard for real-time electronic securities transactions.
FIX Flyer enables Placemark to use its own file formats simplifying trade integration into Placemarkâs proprietary investment management and accounting systems. Traders at Placemark stage and submit lists of orders by choosing an execution destination. Fills are allocated into potentially thousands of accounts using Flyerâs powerful web application designed to minimize keystrokes and processing on the traderâs desktop. Allocations are sent to the broker via FIX or custom formats and then translated back into Placemarkâs native processes.
âWith FIX Flyer weâve been able to significantly reduce our daily process time each day,â said Richard Dion, Executive Vice President and Chief Operating Officer of Placemark Investments, which has offices in Dallas and Wellesley, MA. âFIX Flyer provides us with an automated, high speed, scalable trading solution.â
One of the benefits to Placemark is that the new platform requires no software to be installed. FIX Flyer was able to create the hosted web allocations platform in four weeks. Replacing older client-server based technology, FIX Flyer enables Placemark to allocate accounts in a fraction of the time.
âWe are very excited to deliver such productivity gains to Placemark,â said Brian Ross, CEO of New York-based FIX Flyer. âSaving traders this much time allows them to pursue new opportunities and provide outstanding service to clients.â
In addition to web application and integration, Flyer manages, certifies, and monitors FIX connectivity to Placemarkâs growing list of partners.