We have just recently released new trading related functionalities in FA Platform: the FA FIX engine and an integration to Nasdaq.
The Financial Information eXchange (FIX) protocol is an industry driven messaging standard for pre-trade and trade communications in the global equity markets. FA Platform has now its own FA FIX engine which enables messaging with counterparties by using the FIX protocol. FA FIX engine supports sending new orders, cancelling orders, and cancelling and replacing orders, and it can receive messages such as acknowledgments, order fill statuses, cancels, replaces, and rejects.
Furthermore, it is now possible to integrate FA into the Nasdaq Nordic Fund Market (NFM), an electronic mutual fund service that enables straight through processing of orders and settlement. In practice this means that trade orders can be sent directly from FA to Nasdaq, after which Nasdaq proceeds orders for execution, and the trade status will be automatically updated from Nasdaq to FA.
The benefit of a trading integration is that it automates trading processes, removes manual work, and reduces human error.Lauri Lietzen, Technical Consultant at FA Solutions.
“It is a quick and smooth process. The current integration supports trading mutual funds either with a full or a non-full service. The full service means that Nasdaq also performs a currency exchange for the customer, and then communicates the exchange rate to FA. Of course, FA is configurable to handle both types”, comments Johan Nordmark, Senior Financial Consultant at FA Solutions. Furthermore, Nasdaq provides a variety of interfaces for trading different asset classes, which could be integrated into FA.
The Nasdaq integration is not the first marketplace integration we have built, as we already have connections to Infront trading terminal and MFEX fund trading platform. ”The benefit of a trading integration is that it automates trading processes, removes manual work, and reduces human error. Thanks to FA’s flexible interfaces, it is pretty straightforward to connect to different kind of electronic marketplaces”, adds Lauri Lietzen, Technical Consultant at FA Solutions.
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