SIA Show – New York, New York – June 20, 2006 – Solace Systems, the leader in value-added services (VAS) routing systems, today announced a partnership with FIX Flyer, to embed their financial information exchange (FIX) technology in Solace routers. FIX Flyer’s core engine, routing management, and transformation software will allow Solace’s VRS/32 Value Added Services Router to more effectively distribute electronic financial trade-related messages in advanced FIX-enabled networks.
Low latency is paramount in financial networks today, as most trades are made by algorithmic trading engines where latency of a few milliseconds can mean the difference between making and losing millions of dollars. FIX Protocol standardization has made automated connections with counterparties possible, but the combination of FIX Flyer’s technology and Solace’s silicon-based data routing ensures that thousands of counterparty connections can be maintained with ultra-low latency.
“Although the advent of FIX protocols have greatly increased the speed at which global financial transactions occur, the sheer volume of data flowing through existing systems means transactions can no longer be handled efficiently by software-only solutions, ” said Frank Guerrera, Solace’s Chief Technology Officer, Financial Services. “FIX Flyer and Solace share the vision that financial data exchanges are best accomplished through a service provider’s hardware-based intelligent network in order to reduce the latency and TCO associated with current solutions.”
For financial institutions, trying to keep pace with rapidly evolving technology is virtually impossible. With FIX technology embedded in service provider networks, firms can leverage leading-edge order routing, monitoring and data transformation technologies without the massive capital or operational expenditures of an on-site FIX development project.
“Solace’s VAS routing system is a perfect platform for FIX, ” said Brian Ross, CEO of FIX Flyer. “Combining our leading technologies enables us to present service providers with a plug-and-play FIX platform that will enable key customers in the financial services industry to meet the demands of global trading today, and in the coming decade.”