NEW YORK, April 19 /PRNewswire/ -- TransactTools, the leading provider of
enterprise solutions for electronic trading connectivity, announced today a
new partnership with QuickFIX, the freely-available open source FIX engine
project. Under the terms of the partnership, TransactTools will contribute
source code, resources, and support to QuickFIX.
QuickFIX was first released into open source in early 2001. It has since
gained worldwide popularity and acceptance as a production-quality FIX
implementation. QuickFIX continues to provide an up-to-date implementation
for anyone to use as they see fit.
Sam Johnson, CEO of TransactTools, explains: "We believe that the more
firms that get started with this technology the better, so we'll do whatever
we can to make it easy for them. This is consistent with other things we've
done, like the OpenFIX free testing and certification service we launched back
in 2002, to help promote the adoption of FIX. For TransactTools, it's about
making FIX technology as accessible as possible to the marketplace. Over the
past few years FIX has become further entrenched as the global standard for
trading connectivity among large firms, yet the barriers still remain high for
"By struggling to maintain artificially high price points for what has
become commodity technology, point-solution vendors are creating barriers to
adoption of FIX in the marketplace. The QuickFIX project is a great concept.
It's a solid FIX implementation, and it's freely available as source code.
This doesn't conflict at all with the FIX support in our commercial
connectivity platform, because it targets a very different segment of the
market. TransactTools is committing resources to the project to help make
QuickFIX an even better platform for companies with smaller-scale
implementations or who are just getting started with FIX."
The basic technology that enables a trading firm to communicate via FIX,
commonly called a FIX engine, has become increasingly commoditized in recent
years. FIX engine software functions as specialized messaging middleware for
communicating transactions, and while there are many commercial FIX engines on
the market today, the differentiation among these products -- except at the
enterprise level -- is negligible. By partnering with QuickFIX, TransactTools
aims to promote adoption of FIX more broadly among smaller firms.
According to Oren Miller, the creator of QuickFIX, "TransactTools
recognizes that QuickFIX complements more than it competes with commercial
solutions. The value of FIX as a whole increases with greater adoption. FIX
should be a bridge, not a barrier for those wishing to trade electronically.
I'm pleased to see TransactTools fully embracing this concept, and hope that
others will follow their lead."
TransactTools launched the industry's first enterprise platform for
transactional connectivity management (TCM) in 2001. Since then, the flagship
TCM enterprise platform has evolved to include a comprehensive set of services
for managing all aspects of electronic trading connectivity. Currently in its
fifth release, the platform provides end-to-end capabilities for messaging
connectivity, routing, and translation, as well as regression testing and
certification, real-time transaction analysis, and exception management across
every business system in the enterprise that touches a trade. The TCM
enterprise platform delivers measurable business value through transparency
and real-time management of financial messaging and is used by over 1,500
exchanges, brokers, investment managers, hedge funds, and transaction networks
TransactTools is an active participant in several industry standard groups
including FIX Protocol Ltd. and TWIST Standards Organization. TransactTools
was the first firm ever to launch free, centralized testing services for
validating FIX implementations.
For more information, visit http://www.transacttools.net or call Amy
Johnson at +22.214.171.1243