Easy and Reliable Application for FIX Protocol Connectivity Saves
Trading Firms Time and Money
CHICAGO, March 5 /PRNewswire/ -- Leading application and development firm
ThoughtWorks(R), Inc., in conjunction with Connamara Systems, Inc., today
announced the availability of QuickFIX -- the securities industry's first open
source C++ FIX engine that saves trading firms time and money by providing
easy and reliable Financial Information eXchange (FIX) protocol connectivity.
QuickFIX enables fund managers, brokers, exchanges, and vendors to realize
the benefits of FIX connectivity without incurring time and cost associated
with commercially available, or custom-developed FIX engines. The open source
application is compatible with FIX 4.0, 4.1, and 4.2 specifications and runs
on Windows, Solaris and Linux operating systems. QuickFIX is OSI Certified
open source software. (OSI certified is a certification mark of the Open
Source Initiative.)
The FIX protocol is a messaging standard developed specifically for real-
time electronic exchange of securities transactions. FIX is a public domain
specification owned and maintained by FIX Protocol, Ltd. It serves as an open
standard for sharing financial information electronically in a secure, but
nonproprietary way.
"Viable open source FIX engines, such as QuickFIX, serve the FIX community
well by lowering barriers to entry for FIX adoption, while also providing the
impetus to commercial vendors to improve value," said Jim Northy, Principal,
The LaSalle Technology Management Group, Inc., and a member of the FIX
Technical Committee. "At the same time, they stimulate education and knowledge
sharing that needs to take place in the marketplace. I see open source FIX
engines as a complement to, not a replacement for, commercially supported
products, which is similar to how open source products in the CORBA space are
complementary and interoperable with commercial products."
QuickFIX is specially designed to help trading firms overcome the
obstacles that prevent many companies from realizing the advantages of FIX
connectivity. Specifically, a large number of firms are hesitant to incur the
licensing fees and royalties associated with commercially available products.
Still others lack the in-house capabilities to build their own proprietary
implementations. QuickFIX provides an easy and reliable alternative that
speeds progress toward FIX connectivity, which in turn, allows companies to
capitalize on the protocol's tremendous benefits.
QuickFIX was built in conjunction with an automated testing suite to
verify the integrity of the engine. The tests were run against the code base
using a continuous integration tool known as CruiseControl
( http://cruisecontrol.sourceforge.net ). Originally developed by ThoughtWorks
and released under an open-source license, CruiseControl provides a set of
tasks to automate the checkout/build/test cycle. QuickFIX, as well as the
testing framework, can be found at
http://quickfix.sourceforge.net/download.html .
For more information about QuickFIX, contact Oren Miller of ThoughtWorks
at omiller@thoughtworks.com, or call 312-373-1000.
About ThoughtWorks
ThoughtWorks(R), Inc. ( http://www.thoughtworks.com ) is a leading provider of
custom e-business application development and advanced system integration
services to Global 1000 companies. ThoughtWorks delivers solutions that
require sophisticated software capable of integrating advanced business
functionality with a company's existing core I.T. assets. ThoughtWorks is
headquartered in Chicago with offices in New York, San Francisco, Nashville,
Calgary, London, Melbourne, and Bangalore, India. Founded in 1993, the
company is privately held. ThoughtWorks - The art of heavy lifting(SM).
ThoughtWorks is a registered service mark of ThoughtWorks, Inc. The art
of heavy lifting is a service mark of ThoughtWorks, Inc.
About Connamara
Connamara Systems, LLC ( http://www.connamara.com ) provides IT solutions for the
derivatives and securities trading industry. Connamara offers requirements
definition, system specification, project management, and application
development services. Connamara is located in Chicago and has an office in New
Delhi, India. Connamara was founded in 1998.
SOURCE ThoughtWorks, Inc.
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Related links:
http://www.connamara.com
http://www.thoughtworks.com
CONTACT:
John Guerriere of ThoughtWorks, Inc.,
+1-312-373-8500, john.guerriere@thoughtworks.com
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