16 March 2011
Financial and Energy Exchange Group implements new FIX compliant interface
Newtown, PA - March 16, 2011 - B2BITS®, EPAM Systems' Capital Markets Competency Center - leading provider of high efficiency FIX connectivity solutions, today announced the implementation of a comprehensive FIX compliant interface for the Financial and Energy Exchange Group (FEX), Sydney, Australia.
Customers that currently access FEX's NASDAQ OMX trading platform API will now have ability to receive market data and transact orders via the FIX protocol. The FIX gateways are based on B2BITS® FIXEdge technology. The transaction and market data gateways are available now to Market Participants in a test environment.
FEX worked with B2BITS® engineers to create a FIX v4.4 protocol compliant interface to capture all industry standard features supported by the exchange, and at the same time achieved the lowest barrier to entry for both local and international firms connecting to FEX.
The FEX transaction gateway will process order flows received via the FIX v4.4 protocol, transfer them seamlessly to the NASDAQ OMX X-stream matching engine, and then provide market participants with information on the order status and trades. Market data is also published using FIX where customers can subscribe for market data for all futures and options traded on the exchange, including instrument description, best quotes, trade information, etc.
The Financial and Energy Exchange Group is an integrated exchange infrastructure group offering electronic trading platforms in OTC and Exchange traded derivatives. The Group comprises the FEX exchange traded derivatives market (www.fex.com.au), Mercari OTC swap execution facility (www.mercari.com.au) and SIM Venture Securities Exchange (www.simvse.com.au). FEX has one of the most advanced electronic trading systems in the world.
"EPAM Systems was chosen by FEX due to the reliability and efficiency of the B2BITS® products, and EPAM's willingness to work with FEX very closely to satisfy all of our platform requirements. They included providing all market participants with a globally recognized standard in creating a high speed, low latency, robust, and secure access to the FEX market," says Thomas Price, CEO of the Financial and Energy Exchange Group.
"B2BITS® EPAM Systems is pleased to be selected by FEX to provide FIX connectivity for its derivatives trading platform. We look forward to working with FEX to fully implement their FIX interfaces into production. We believe that the unmatched performance of our FIX engines and operational tools will position FEX to perform very competitively to service electronic trading clients globally," commented Mark Bisker, SVP of Banking and Finance Solutions, EPAM Systems.
About FEX
The Financial & Energy Exchange (FEX) is a market infrastructure and services group, operating regulated electronic markets for exchange traded derivatives, over the counter products and CleanTech equities. FEX is focused on facilitating and providing access to the rapidly developing and expanding Asian energy and commodity markets. Linking local growth with global demand.
The FEX exchange traded derivatives market will utilize NASDAQ OMX technology, the premium trading technology supplier to world exchanges. LCH.Clearnet, the world's largest independent clearing house, will provide clearing services for the FEX exchange traded derivatives market.
For more information on FEX or the FIX Connectivity options, please contact Peter Coyle at p.coyle@fex.com.au.
About EPAM Systems
B2BITS®, EPAM Systems Capital Markets Competency Center, delivers solutions that cover trading and operations in all asset classes including Equities, FX, Options, and Fixed Income. The Center's reusable frameworks and components include OMS, matching engines, market data feeds adapters, exchange gateways, and electronic payment services utilized in many trading firms, banks, brokerage and clearing houses, as well as exchanges. B2BITS® is a registered trademark of B2BITS, EPAM Systems Company.
Established in 1993, EPAM Systems, Inc. is the leading global software engineering and IT consulting provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM provides services to the clients worldwide utilizing global delivery model through its client facing operations in North America, UK, Germany, Switzerland, and Sweden, together with 5,500 professionals deployed across delivery centers in Russia, Belarus, Hungary, Kazakhstan, and Ukraine.
EPAM's core competencies include complex software product engineering for leading global software and technology vendors, as well as development, testing, maintenance, and support of mission critical business applications and vertically oriented IT consulting services for global Fortune 2000 corporations.