Gissing Software, a provider of real-time trading software, will partner with Fingertip Developments, financial markets software specialist, to deliver straight through processing for the International Capital Market Association’s (ICMA) service, TRAX.
Gissing Software and Fingertip Developments have been working together to provide STP to Moscow Narodny Bank Limited with Gissing Trade Capture and Fintracker applications. The Moscow bank operates the combined solution to support its use of TRAX, which matches trades between counterparties and forwards trade details to the appropriate regulatory bodies.
“TRAX is integral to our business operations, by using a combined solution from Gissing Software and Fingertip Developments we have improved our STP and the man hours saved have been substantial,” said Steve Humphries, senior manager of operations at MNB.
The upgraded TRAX ORC trade matching and regulatory reporting service will be available in 2007, and will come with two new messaging formats, ISO 20022 and ISO 15022, replacing TRAX Series 6 messaging. Gissing Software has worked with Fingertip Developments to ensure that Gissing Trade Capture and Fintracker provide an STP solution capable of handling the new messaging formats.
Gissing Trade Capture provides real-time interface from multiple ECNs and ATSs. It links trades completed on those systems with internal or external systems so that trades are directly integrated into back office systems. Fintracker is an automated trade entry and receipt interface that allows clients to send trades directly from any number of trading systems to ICMA. The combined technology from Gissing Software and Fingertip Developments creates a Microsoft Windows-based STP.