Saxo Bank Taps Fix8 Market Tech Solution for Global Market Connectivity

Fix8 Market Tech, a next-generation FIX solution provider, announced today that it has been chosen by Saxo Bank who will use its Fix8Pro technology as part of a new high performance market connectivity engine.

Chief Technology Officer at Saxo Bank, Michel Andre, said: “Fix8Pro offered us a lightweight turnkey fix engine as a component that we could integrate easily into our framework and solution. It has allowed us quicker time to market while retaining flexibility and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term speed close to a home built solution but without the sacrifices involved in more heavy handed frameworks.”

"Fix Sandbox"

Fix8 Market Tech also offers Fix8, a free, open-source framework that developers can use to build FIX applications using any FIX version, utilising built-in testing and performance-enhancing features. Fix8 gives market participants a FIX 'sandbox' to make FIX application development simpler, richer and more functional.

Fix8Pro has allowed us quicker time to market while retaining flexibility and execution speed close to a home built solution.

Fix8 Market Tech founder David Dight said: “We operate in the spirit of FIX which is a free, open-source language that anyone can use. Fix8Pro is the ‘secret sauce’ with self-generating code, and intelligent capabilities that push decision-making down the FIX layer for smarter FIX connections that reduce latency and also streamline reporting back into the firm and out to the client.”

The Fix8 solution is best suited to enterprises that want to retain control of their FIX interfaces in-house, but don’t want to build from scratch. It is potentially useful for larger sell-side and Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term as well as exchanges, regulators, market data providers and other non-participants.

Fix8Pro mitigates vendor risk and provides a middle ground. Clients are provided with fast, hi-tech solutions but customised to their in-house architecture, along with expert external support and documentation.

Fix8 Market Tech was founded to exploit a gap in the FIX vendor market which has become, according to Dight, “pricey and lacking innovation."