14 November 2003
COR-STPS partners with B2BITS for FIX 4.4
London, November 14, 2003 - COR STP Solutions,
a division of COR Financial Solutions, is deploying the B2BITS FIX
engine within COR's Salerio e2e platform to enable FIX 4.4
messaging for allocations, confirmations and settlement
instructions.
COR-STPS chose B2BITS as its preferred partner for FIX
connectivity following a detailed analysis of a shortlist of market
leading FIX engines. The FIX Antenna engine will be embedded within
COR-STPS' Salerio e2e product suite and deployed to investment
managers wishing to utilise FIX based messaging as part or all of
their transaction management process.
Lee Runciman, COO of COR-STPS, said: "We believe that FIX 4.4
will become integral to the strategic direction of the investment
management community due to the potential cost-savings it produces
in the middle-office. As we are piloting our full FIX 4.4 solution
with a key client and several major brokers, we believe that we
shall be in a position to capitalise quickly from the uptake of FIX
4.4. We made the decision to partner with B2BITS for a number of
reasons including their responsiveness, product strategy, and
technology fit with Salerio e2e".
Robert Woodmansey, CEO of B2BITS, said: "The partnership with
COR allows us to kick-start the uptake of FIX 4.4 and allow more
investment managers to reap the benefits already realised by
existing B2BITS customers. Our combined solution will be one of the
first in the market utilising FIX 4.4 processing at a live client
site."
Salerio e2e is unique in being the only STP application
available that is specifically designed for investment managers:
The standard applications allow operational efficiencies to be
maximised through prioritised, exception-based workflows. The
product suite offers a truly integrated approach to transaction
process management across all instrument types, including
notification, confirmation, settlement and reconciliation. The
inclusion of FIX processing means that Salerio can now offer
connectivity either directly to brokers or through the range of
services already supported including OMGEO, SWIFT and the DTCC.
Chris Brooke, Business development Director of COR Financial
Solutions, said:" In partnership with B2BITS we will bring FIX
connectivity to the Investment management market in not only a cost
effective manner in its own right, but also in such a way that FIX
can be deployed seamlessly alongside other transaction based
services in whichever configuration best benefits the
customer."
COR-STPS will be exhibiting Salerio e2e at the ISITC conference,
London 20th November.
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