The complexities of cross-border, multi-counterparty transactional products and the processing environment â very often composed of numerous legacy systems, can make the costs of achieving process automation prohibitive. RA-ShortCutâ¢ for FIX, which can be used anywhere in the business process, makes light work of connecting counterparties using the FIX protocol and enables clients to route FIX messages to many internal systems.
Third Financial Software's OMS (tercero Order Management function), as part of its Wealth Workstation Business offering, will now leverage the RA-ShortCutâ¢ adapter; enabling simple transformation and normalisation between multiple protocols, including FIX, EMX, SWIFT, FpML, XML, XBRL, ISO (MT and MX series), XML and many others.
Financial institutions of all types and sizes, among them Third Financial Softwareâs clients, will now benefit from an unprecedented opportunity to reduce risk, manage costs of automation and achieve true Straight Through Processing (STP), previously not experienced across the market.
Brent Randall, CTO at Third Financial Software, commented:
âBy integrating Rapid Additionâs software with our own, we can answer the demands of the industry, in reducing risk and lowering costs while improving STP rates. This is only the start of our partnership and we look forward to exploring more opportunities in the future to ensure that we continue to offer best-of-breed solutions and stay ahead of the competition.â
Joe Pagano, global managing director â banking and capital markets at Microsoft, added:
âRapid Additionâs BizTalk adaptor provides a quick-to-deploy answer for firms looking to streamline transactions from front-office trading platforms to back-office settlement systems or to integrate FIX and SWIFT messaging. Embedding our offering into Third Financial Softwareâs tercero OMS will extend its capabilities and allow Third Financial Softwareâs clients greater flexibility in connectivity to their counterparties.â
Toby Corballis, CEO at Rapid Addition, concluded:
âThe work we have done with Third Financial Software and their OMS is yet another example of how technology firms from across the industry are helping to deliver cutting-edge technology for financial institutions around the globe. We look forward to growing our partnership and supporting Third Financial Software and their clientsâ FIX requirements.â