FixSpec Launches Innovative Multi-Venue Certification Utility to Streamline Connectivity

FixSpec Ltda provider of automated connections to trading venues announced the immediate availability of the world's first, multi-venue certification utility for the trading community. The utility gives developers the ability to make an internet connection to an interactive FIX service designed to replicate the message formats of a FIX counterparty such as an Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term or broker. Available all day, every day, developers can connect to the service on their own convenience, manually perform actions such as execute orders and cancel trades, and test their code against a certification script; all without needing to book a formal testing slot with the counterparty, saving a lot of wasted time for both parties.

"As I talk to our customers about the problems they face when building and maintaining trading connections, three issues keep coming up: access to accurate specifications, access to UAT, and coordinating testing with the counterparty. We believe we addressed the first issue 5 months ago when we first launched FixSpec.com, and today we believe we are tackling the other two head-on. I'm particularly excited that we were able to fully integrate the service directly into FixSpec.com, making it both intuitive and immediately accessible to our registered users" explains FixSpec Founder Chris Lees.

FixSpec offers a service to the issuers of FIX specifications to set up and maintain the service on their behalf for a fixed subscription fee, removing the burden of configuration away from venues and brokers and avoiding the uncertainty of expensive consultancy fees. Since the service is designed to run in the Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term and support multiple venues, there is no need for hardware or software installation, and the resulting cost is dramatically lower than some competitive on-premise products. In order to remain in sync with the underlying venue, FixSpec maintains a connection to the underlying venue's UAT system, continually regression testing it's responses to ensure a high degree of accuracy.

"Everybody wants to bring on new clients faster and give them a good initial experience. Getting it right can be expensive both in terms of hardware and support staff time, both of which are always in short supply. It's easy to forget that your clients and vendors are also connected to other firms too, so we think that a multi-venue utility which shares the cost of provision and ensures a consistent, quality experience makes lot of sense" commented Lees.