SunGard announced today that the SunGard FIX Engine version 4.5 has been awarded the SWIFTNet Ready FIX service label.
The company says that the SunGard FIX Engine enables financial services institutions to manage large order flows more efficiently, reduce operational costs and improve efficiencies for real-time execution information and settlement via the FIX protocol.
“The SWIFTNet FIX Service allows institutions connected to SWIFTNet, SWIFTs IP-based messaging platform, to communicate using FIX with fund managers, broker-dealers and exchanges,” explains SunGard. ” SWIFTNet FIX allows firms to monitor and maintain a single network connection and FIX session with all of their trading counterparties. In order to achieve the SWIFTNet Ready FIX Service label, SunGards FIX Engine was tested by SWIFT for compatibility with the service.
“SunGard is a leader in FIX and we are very pleased to award SunGard the SWIFTNet Ready FIX Service label. SunGard continues to advance the industry’s STP initiatives, and their support for our FIX program is evidence of their commitment to helping firms reduce costs and increase efficiencies on a global scale. SunGard’s and SWIFT’s mutual customers stand to benefit tremendously from the use of SunGard’s FIX engine with SWIFTNet,” says Matt Fox, SWIFTNet FIX program manager.
“SunGard Business Integration and SWIFT are both dedicated to helping the financial services industry achieve straight-through processing via simplified interoperability and business process standardization,” adds Janet Lewis, managing director of SunGard Business Integration in the U.S. “By deploying the SunGard FIX Engine together with their existing SWIFTNet infrastructure, our clients can save on costs while improving their operational efficiency.”