B2BITS launches a replacement program for FIX, FIXML, and FAST enabled software

Newtown, PA - 23 June 2010

B2BITS, EPAM Systems’ Capital Markets Competency Center providing technology for FIX connectivity, announces the launch of a program to support the large base of commercial, in-house developed, and open source FIX solution users who are seeking to improve their operational capacity and lower costs by upgrading their existing Java, .NET and C++ based connectivity tools to modern solutions.

The technology driving FIX trading is rapidly evolving together with the markets demand for efficiency as well as the FIX protocol. The last five years in the market have been characterized by a dramatic increase in acceptance of FIX protocol by exchanges worldwide. This evolution also applies to the increased adoption of FAST for distributing market data. More often market participants, especially the early adoptors of the FIX protocol, realize the need to upgrade their FIX connectivity solutions through re-development or acquisition. The major factors that drive the decisions can be:

• Limited functionality of legacy FIX based systems compared to the new, more rich solutions available on the market
• Performance related factors such as latency and throughput to support high frequency trading
• New hardware capabilities utilized by modern FIX engines to improve performance and save costs
• Need for interacting with new middleware to expand compatibility
• Need for using the latest versions of the protocol to meet counterparty requirements
• Lower cost of acquisition and total cost of ownership of new products available on the market
• Licensing models making system expansion cost prohibitive
• Increased number of connections under management and inadequate operational tools
• The new FIX engines come bundled with a full set of tools

Concurrently the following aspects prevent organizations from switching to newer software:
• Tight integration of the old software with existing systems
• High cost of re-integration work
• Legal bindings and terms of the existing licensing agreements

B2BITS works closely with the companies seeking to upgrade their FIX connectivity solutions helping develop strategy for managing FIX, FIXML, and FAST enabled software. The replacement program for Java, .NET and C++ based FIX engines is designed to satisfy the evolving needs of commercial , in-house developed, and open source FIX solution users. B2BITS helps address the challenges of re-engineering the FIX connectivity layer by providing a complete set of services.

For commercial software users we offer:

• Assessment of the current state and elaboration of the rationale and actionable recommendations
• In case of a change necessity, B2BITS will prepare a detailed plan for product acquisition and integration work scope
• Proof of Concept for porting from a vendor solution or in-house system to FIX Antenna
• To clients holding unexpired licenses, a free license until the expiration of the existing licenses, regardless of the number of engines*
• Integration works from the low-cost development centers in Eastern Europe

For users of in-house developed solutions:

• Assessment of the current state and elaboration of the rationale and actionable recommendations
• In case of a change necessity, B2BITS will prepare a detailed plan for product acquisition and integration work scope
• Proof of Concept for porting from a vendor solution or in-house system to FIX Antenna
• As an incentive for the change, B2BITS provides a free 3-month license regardless of the number of engines
• Integration works from the low-cost development centers in Eastern Europe

For open source FIX solution users:

• Assessment of the current state and elaboration of the rationale and actionable recommendations
• A 1-month evaluation license to demonstrate B2BITS’ FIX engine solution performance, which significantly exceeds that of the open source solutions
• As an incentive for the change, B2BITS provides a free 3-month license regardless of the number of engines
• Integration work is provided from the low-cost development centers in Eastern Europe, if required

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