Online trading and investment specialist Saxo Bank has chosen an up and coming Australian fintech firm to provide a new high performance market connectivity engine.
Sydney based Fix8 Market Tech, a next-gen Financial Information Exchange (FIX) solution provider, has announced their technology has been chosen by Danish Investment Bank Saxo Bank.
«Saxo Bank will use Fix8Pro as part of a new high performance market connectivity engine,» Saxo's Chief Technology Officer Michel Andre said.
Fix8Pro offered Saxo a lightweight turnkey fix engine as a component that could integrate easily into Saxo's existing framework and solution, the firm said in a statement sent to finews.asia.
A FIX Sandbox
Fix8 Market Tech, founded in 2013 by David Dight, (pictured) also offers Fix8 – a free, open-source framework that developers can use to build FIX applications using any FIX version, utilizing built-in testing and performance-enhancing features. Dight said that Fix8 gave market participants a FIX «sandbox» to make FIX application development simpler, richer and more functional.
Dight’s 30 year FIX career encompassed roles in NASDAQ, OMX, Deutsche Bank and Computershare. He founded Fix8 Market Tech to exploit a gap in the FIX vendor market. According to Dight the FIX vendor market has become pricey and lacking innovation.
The «Secret Sauce»
«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,» said Dight.
Fix8 has offices in Sydney and Moscow, with regional support in the US. 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.
