Ottawa , Canada , March 30, 2006 – Solace Systems, the leader in VAS (value-added services) routing systems, today announced that it has joined FIX Protocol Limited (FPL), an organization dedicated to promoting the FIX protocol for use in electronic financial exchanges worldwide.
FPL’s mission is to promote the use of the Financial Information eXchange (FIX) protocol, a global protocol and messaging standard for the real-time electronic exchange of securities transactions including equities trading, derivatives, fixed income and foreign exchange markets. The FPL also works to ensure the consistent application of the standard as it is extended into new markets, asset classes and trade phases. The FIX Protocol has been developed through the collaboration of banks, broker-dealers, exchanges, industry utilities and associations, institutional investors, and information technology providers.
"FIX Protocol Limited’s efforts are creating standard processes that are eliminating the ambiguity and latency involved with electronic financial exchanges and allowing the financial market to maximize general-purpose standards like XML, " said Frank Guerrera, Chief Technology Officer – Financial Services, Solace Systems. "Solace is dedicated to making FIX accessible and pervasive in partnership with leading financial institutions and service providers. FIX is a perfect example of a technology that makes more sense as a secure, embedded capability in the network than as a convoluted mesh of hard to maintain servers and leased lines."
The Solace Value-Added Services Routing System is an evolutionary step in content networking that moves application-level functionality into the network and transforms bit-pipe networks into intelligent application exchange systems. With Solace’s VAS routing systems, service providers can facilitate fast, easy and reliable communications between financial services firms, trading partners and exchanges.
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