Leading Latin American Broker Dealer Speeds Development for Algorithmic Trading in MILA
July 24, 2012
New York, New York — July 24, 2012 – FIX Flyer, leader in solutions for electronic trading, monitoring and global connectivity, announced today that Larrain Vial, one of the leading brokerage houses in Chile, is leveraging FIX Flyer’s Ignition Trade Simulation and Certification tool to thoroughly test in-house algorithms and connectivity to the exchange and to MILA, the network linking the Santiago Stock Exchange, Colombian Exchange and Peruvian Exchange together. Ignition simplifies testing by capturing complex testing scenarios that are used for simulating the exchanges and their institutional client trading.
“FIX Flyer Ignition has allowed us to rapidly deploy new algorithms for customers all over the world,” said Angello Carrasco, Head of Electronic Trading Systems at Larrain Vial. “With Ignition, we have automated the testing and development of new features to our electronic trading platform, letting us be very sure about releasing new algorithms and thoroughly test our FIX connections with our counterparties and the exchanges including MILA.”
Ignition is a desktop tool that has a powerful GUI based test case management system that is used to catalog thousands of scenarios and simulations for real time trading. Once test cases are built, they can be run standalone or as part of a full regression test on any FIX based trading system. Detailed reporting and analysis are provided with Ignition’s easy to use reports.
“We are delighted to be working with Larrain Vial and are especially glad that they realize writing great software needs thoroughly automated testing tools,” said Brian Ross, CEO of FIX Flyer. “We continue our commitment to be the premier technology provider for FIX in Latin America, so that we can provide the trading community with the tools they need to manage their electronic trading and build lasting businesses,” he adds.
FIX Flyer is also working with many other firms in the LatAm region to make sure that their FIX infrastructure is as good or better than the greatest trading centers in the world.
LarrainVial is one of the oldest and largest investment bank in Chile, present in the national market since 1934. Currently, it offers economic and financial advice for companies, retail and institutional investors.
The brokerage area of LarrainVial has been number one in equities traded volume at the Santiago Stock Exchange in the last 17 months with a 33.2% market share (june 2012). The corporate finance area at LarrainVial has been responsible of 50% of the IPO’s launched in the last ten years in the Chilean market, and its asset manager has consolidated its industry position as the largest non-commercial-bank-owned asset management group within the Chilean funds industry.
LarrainVial has fourteen offices in Chile, Peru, Colombia and the United States. During 2011 LarrainVial’s AUM amounted to USD 14.407 millions and its profits grew to USD 43 millions.
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.