IBSN Offers Quick SAXESS Connectivity; Translate Any Message Format to XTP Quickly and Painlessly.Business Editors DENVER--(BUSINESS WIRE)--Dec. 15, 2003 IBSN, Inc., a provider of financial services integration and connectivity services, today announced availability of the only bi-directional XTP translator that enables companies to connect directly to systems using SAXESS, a marketplace operating system developed by OM in Sweden. SAXESS uses the Xpress Transport Protocol (networking, protocol) Xpress Transport Protocol - (XTP) A transport layer protocol for high-speed networks promoted by the XTP Forum. XTP provides protocol options for error control, flow control, and rate control. (XTP). Firms that use FIX and other protocols for their financial transactions need a way to translate information to XTP and back again. "IBSN's XTP translator has the flexibility to be used to connect with any SAXESS-based system," said Candyce Edelen, vice president of business development at IBSN. "For example, if a company wants to connect to the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. or the Minneapolis Grain Exchange The Minneapolis Grain Exchange (MGEX) was formed in 1881 as a cash market for grains. The exchange launched its first futures contract, hard red spring wheat two years later. , they can use our XTP translator to quickly connect and better utilize their in-house resources." Many trading firms already use IBSN's XTP translator to connect to NASD's Alternative Display Facility Alternative display facility (ADF) is an equity trading facility created in the United States by NASD, a self-regulatory organization (SRO). The ADF is an alternative to the exchange for publishing quotations and for comparing and reporting trades. (ADF (1) (Application Development Facility) An IBM programmer-oriented mainframe application generator that runs under IMS. (2) (Automatic Document Feeder) A paper stacker that feeds one sheet of paper at a time into the unit. ), which allows registered NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). market makers and electronic communications networks (ECNs) to publish quotations and report trades in NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on securities. Participants are required to provide order routing and execution capabilities to the ADF through private means. IBSN is the provider of the ADF FIX Translation Facility, a service bureau that enables firms to use the FIX format when connecting to the ADF. Now the XTP translator from IBSN is also available for companies to use in-house, so they don't have to devote expensive technical resources to building an in-house XTP interface or invest in technologies away from their core infrastructure. If executed in-house, companies typically take four to six months to write interfaces to SAXESS systems. IBSN's XTP translator can be implemented in a fraction of that time. In addition to external connectivity, IBSN's translator can also be used to integrate internal systems to the SAXESS trading system. "Now, for the first time, companies that want FIX connectivity to SAXESS-based systems have a choice," said Colin Clark, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IBSN. "They can connect to any SAXESS system through the FIX Translation Facility IBSN created last year for the ADF, or they can purchase and install this tool in their own systems, sparing themselves from several months of writing custom code." The XTP translator can be incorporated into companies' existing iNtegrate! deployments or in-house connection facilities. It is also available through Dominet, IBSN's online order routing network, eliminating the need for firms to build individual connections to each venue. About IBSN, Inc. IBSN, Inc. is a growing company that's changing the way financial information systems are managed. The company provides a full suite of integration and order-routing solutions designed to help financial services companies substantially decrease the time and costs associated with enabling straight-through processing, internal integration, counter-party connectivity and order routing. IBSN's products enable companies to connect electronically with trading partners, facilitate electronic trading, integrate back, middle and front office systems, and achieve straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. objectives. More information on IBSN can be found at www.ibsncentral.com. |
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