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Tervela and FIX Flyer Announce First Production Customer for Order Routing Platform

Posted: 13 January 2009

Tervela, the provider of low-latency messaging systems, and FIX Flyer, a provider of solutions in electronic trading, today announced the first joint production customer for FIX on TMX, an integrated order routing platform. The customer, an international brokerage firm that provides liquidity to global equity markets, has deployed the platform to provide a single point of management for mission-critical, high-speed electronic trading. FIX on TMX combines FIX Flyer's Engine and Daytona Monitoring Framework with the Tervela Message Network(TM).

"In today's volatile markets, brokerage firms are seeing order flow and liquidity being threatened. As such, they are actively seeking new ways to improve service, increase 'stickiness' and remain competitive," said Barry Thompson, CTO and Co-Founder, Tervela. "Adding new functionality such as algorithms or more asset classes is much easier on this platform. Our integration with FIX Flyer gives customers built-in redundancy, order routing latencies and ensured non-stop service without requiring additional infrastructure investment."

With rules-based logic for trading and back office processing, automated data order processing and high-speed APIs, the integrated platform provides an architected approach to electronic trading and order routing. Additional capabilities include topic configuration, protocol transformation and normalization and multicast assignment. Traders at the global firm have the ability to safely handle unforeseen spikes in volume during volatile markets and experience increased operational efficiencies from consolidating systems and network connections into a single managed strategy.

"Global brokerage firms trade multiple assets across many different geographies, which taxes their trading architectures in very specific ways,"
said George Kledaras, Chairman and Co-Founder, FIX Flyer. "FIX on TMX was designed to deal with the demanding performance requirements, heavy dependence on messaging and unique operational challenges they deal with every day."

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