Ariadne FIx Gateway

ARIADNE®   FIX Gateway           “Your Gateway to World”

ARIADNE® FIX Gateway aims to provide customers with universal connectivity to communicate with exchanges, brokers, and data vendors worldwide through reliable, standardized, flexible and cost effective interface. ARIADNE® offers one plug to the world wide exchanges, brokerage firms and hubs allowing customers to achieve more turnovers in less time.

FIX Overview

FIX (Financial Information eXchange) protocol comprises a series of rules for the exchange of messages between computers and computer networks that has drastically change the way of international brokerage trading. Brokerage firms that use solutions based on FIX protocol enjoy many advantages since electronic transactions can be achieved in a timely manner with low cost.

The Financial Information eXchange (FIX) protocol is the leading open-messaging standard for electronic trading worldwide that has drastically change the way of international brokerage trading.  FIX is an ideal way to link and automate electronic transactions between all trade stakeholders in a timely manner with low cost and it is commonly believed that FIX will be the dominant electronic trading standard, regardless of asset class, in the years ahead.

 Started in 1992, the FIX protocol is a public-domain specification maintained by FIX Protocol, Limited (FPL) and is being used for a variety of asset classes such as equities, fixed income and foreign exchange trading for both cash and derivative products.

The protocol itself is a cooperative effort among leading buy- and sell-side firms, exchanges, ECNs, clearing corporations, technology vendors, and other industry organizations, driven by their interest in shortening settlement times, automated straight-through processing (STP) and electronic connectivity.

 FIX allows firms to automate all aspects of the pre- and post-trade process delivering many benefits such as greater trade efficiency, faster time to market, a noticeable reduction in trade errors, and cheaper access to liquidity.

The software solutions for FIX Protocol based electronic trading are commonly known as FIX Gateways or Engines. FIX Gateways maintain electronic connectivity with trading counterparts, communicate trading information and monitor data integrity.

Broker Systems SA has developed ARIADNE® FIX Gateway to accompany XRHMA®  Suite in an effort to promote STP, world wide trading automation and electronic connectivity allowing buy- and sell-side firms to be competitive in the market.

Characteristics of the ARIADNE(R) FIX Gateway
ARIADNE® FIX Engine is an enterprise-strength solution for companies who plan to use the FIX protocol for electronic trading and works as part of the ΧΡΗΜΑ®  Suite.

Based on Broker Systems SA experience in building solutions for electronic market trading, risk management, clearing, settlement and backoffice applications ARIADNE® FIX Engine has been designed and developed a state of the art FIX connectivity module which meets the highest industry standards proving in the same time flexibility, reliability, performance and integration with all other modules of XRHMA® Suite. ARIADNE® FIX Engine has the following characteristics:

Integrated

  • Full automation and integration with Xrhma Order Routing, Trading, Clearing, Settlement, Risk Management and Compliance modules providing a Straight Through Processing for information transfer between front, middle and back office operations eliminating human intervention.
  • A single front to back platform in order to manage domestic and cross-border trading and post trading operations
  • A single order routing and trading administration and management utility that contains all the business logic a brokerage firm employs.
  • Common and transparent management of both FIX and proprietary gateways (OASHS, ARENA) for real-time trading.

Reliable

  • Based on well established, state-of-the art technology
  • Designed for high volume support
  • Strong customer base including industry leading banks and Brokerage Firms

Flexible

  • Supports of all FIX versions and variations
  • Customizable FIX specific functionalities and properties
  • Easily adapted to every FIX implementation
  • Supports Manual and DMA Order Manipulation
  • Supports Initiator and Acceptor operation modes

Cost effective

  • Minimum maintenance costs
  • Minimum adaptation costs
  • Minimum operational costs

  

ARIADNE(R) FIX Engine Order Flow & XRHMA(R) Suite relative modules  
The following diagrams present incoming and outgoing information flow for incoming FIX Orders and outgoing domestic orders. Moreover, relative XRHMA Suite’s modules are depicted:

ARIADNE(R)  FIX Gateway  Technical Details
  •   Performance: Handles high volumes of message flow across multiple connections.  

  • High Availability and Fault Tolerance: Embedded auto recover mechanisms and cluster support.

  • Multiple Connectivity: Each installation may support multiple FIX routes and sessions.

  • Multiple Operation Modes: supports both initiator and acceptor modes configuration as well as incoming and outgoing order flow.

  • Order Handling: supports both DMA and manual orders.

  • Guaranteed Message Delivery: forwards all messages to and from clients in the order they are delivered.

  • State and Session Recovery: Full recovering capability via FIX messages and Session Information storing.

  • Management and Monitoring: ARIADNE® has its own monitoring and management modules. There is a management console for handling all manual orders (and respective trades) that are keyed into the trading cycle and a monitor application to supervise and analyze the business information flow and ‘raw’ FIX messages for both DMA and Manual orders.

XRHMA(R) Suite & ARIADNE(R) FIX Gateway deployment
A full scale XRHMA® Suite deployment diagram that includes ARIADNE® FIX Gateway is presented in the following diagram:

 

  

KEY BENEFITS

ARIADNE®  FIX Gateway is a solution for the global trading to international market developed by Broker Systems SA, in collaboration with leading banks. It communicates through multiple channels with brokers, custodians and depositories to create a true environment of straight through processing from trade to settlement with bidirectional communication (incoming & outgoing). By centralizing their processing systems, XRHMA®   enables banks and financial institutions to reap benefits from a simple, effective and reliable technology platform. 

·         Extensive Market Coverage

Increase market coverage by processing wide range of financial instruments such as equities, debt instrument, derivatives and mutual funds to any foreign market and through multiple cooperations.

·         Higher Operational Efficiencies

Enabling straight through processing of trade and settlement in real time under full security controls, risk management and user limits.

·         Improve Operation Control

Seamless integration of complete securities processing value chain processes through XRHMA®    comprehensive functionality and flexibility.

·         Raise Customer Service

Facilitate improved transparency by providing accurate information on customer transactions.

·         Regulatory Compliance and Risk Management

Meet legal and regulatory requirements by flexible preventing and reacting real time and reporting mechanisms.

·         Ease of Integration

Well defined, easy-to-use published APIs enables rapid integration into XRHMA®   online trading (Multiclient) and third party applications for bidirectional communication 

·         Investment Protection

Through open, scalable, flexible architecture for future growth and business practices.

·         Increased coverage

Comprehensive functionality with coverage for all business areas for global trading operations along with Multi-Branch, Multi-Currency, Multi-Entity, Multi-Client functionality XRHMA®   provides.

 ·         Improved Productivity

Minimized manual intervention, would eliminate redundant activities, improve productivity & operational efficiency, and reduce risk.

·         Better Risk Management

Significantly parameterized and rule driven for easy, flexible and adaptive configurability through XRHMA®   BS_Console, complete enterprise wide view of information, comprehensive audit trail features, effective management of exceptions and provision for data Archival & Recovery.

·         Low cost of ownership

Choice of hardware & database platforms, easy & flexible to interface with external systems through generic communication interface, robust & scalable open architecture for future growth in business.

·         General Business Advantages

o       Reduced time to connect

o       Maintenance and operational cost reductions through standardisation and integration.

o       Organisational and IT infrastructure simplification

o       Reduced time to market for new competitive products and services