Solutions: EMX (Mutual Funds Trading)
In the UK the FIX Protocol is used for Mutual Fund Trading enabling the use of electronic messaging between an intermediary (funds supermarket or IFA) and an Asset Manager. The means of transport for these messages in the UK is the EMX Message System. EMX have defined their own FIX version in order to support this trading.
Solutionforge connected M&G to the EMX Message System in 2000 and following on from that, has been responsible for connecting more participants to that hub than any other FIX vendor. EMX Co. itself uses FIX.NET Server as the core component of its own testing infrastructure.
Key features of FIX.NET Server in the EMX Market:
- FIX-XML conversion enabling customers to process XML documents internally whilst still sending FIX
- Speed of integration – with the number of institutions partnering with Solutionforge the integration time is now as quick as 6 weeks
- Integration options include: BizTalk, Web Services and IBM MQ series
- Supports multiple concurrent connections to EMX
- Handles the intricacies of FIX session management without any intervention from client application
- Support of latest EMX message versions - 5 & 6
- Runs on Windows NT/2000 & Windows 2003 Server
Key EMX Clients include: Bravura, IFDS, BNP Paribas, Mellon, Bank of New York, Brewin Dolphin, Skandia