October 27, 2008
New York, New York — FIX Flyer, an innovator in trading solutions for Wealth Management, announces today that demand for post trade allocations in its Flyer Trading Network has grown significantly in 2008. Wealth managers are achieving dramatic reductions in the complexity and time spent processing allocations with FIX Flyer. Sponsors using the Flyer Trading Network receive trades and allocations via FIX or any custom file format, effectively eliminating the need for the wealth manager to implement custom sponsor formats.
Flyer created the open and fully hosted platform so that clients can realize the full promise of automated electronic allocations for wealth managers of all types without getting locked into another rigid network.
FIX Flyer reports that the number of sponsor destinations has doubled from seven to fourteen. In addition, the number of accounts increased 123% and the total number of allocations processed per month has grown over 66% in the same period.
FIX Flyer supports the full automation of allocation processing, including step-out allocations, converting manager’s allocation files into the sponsor’s back office protocol. Acting as a universal adapter into the back offices of sponsors, FIX Flyer transforms and delivers any format of manager allocation file into any sponsor’s back office, using either the sponsor’s native format or industry standards such as FIX. Sponsors benefit by allowing managers to leverage FIX Flyer’s universal adapter to convert manager and vendor file formats into standard sponsor formats resulting in faster client onboarding and easier allocation processing. Both sponsors and the asset managers benefit from superbly efficient operations, completely managed by FIX Flyer’s support team.
About FIX Flyer
FIX Flyer develops and operates advanced technology for managing complex, multi–asset, institutional securities trading using highly scalable software and network technologies.
Since 2005, as an agile technology provider, we have partnered with our 170+ clients worldwide, including UBS, Barclays, TD Ameritrade, Fidelity, Berenberg, Unicredit, GBM, Interacciones, Bank of America Merrill Lynch, Goldman Sachs, and more to build high quality, feature-rich software.
Flyer has built a team of operational experts who manage and provide Managed FIX software-as-a-service. Our subject matter experts create and operate FIX servers for you to realize the full potential of our software to deliver the highest level of service and return on investment.
The FIX Flyer Engine is the first FIX server designed to manage high volume, ultra low latency trading networks and ECNs, easily scaling to thousands of connections.
FIX Flyer also provides the Daytona trade surveillance monitor, the F1 Risk Control Gateway, the Ignition regression test and certification tool; the Flyer Online hosted Order Management System, and the Flyer Trading Network.
FIX Flyer has headquarters in New York City with offices in Boston and Hyderabad India.