The multi-asset class Clearing House serves a broad number of major exchanges and platforms as well as range of OTC markets. The Clearing House helps reduce the risk a member firm faces in failing to honor its trade settlement obligations, ensures a clear growth path for clearing across multiple markets, exchange, venues and geographies. 


EPAM was chosen by The Clearing House to provide a solution with the following requirements:

  • To supply a generic trade capture HUB to reliably work with multiple venues
  • To be flexible to accommodate specific FIX dialects and support required message transformation from FIX to FIXML
  • To provide integration with MQ
  • To provide adequate monitoring and configuration options


EPAM licensed FIXEdge®, its standalone application server, and provided consulting services aimed to develop a FIX-compliant trade capture hub and integrate it with the internal systems of The Clearing House. The solution provides FIX gateways for submitting trade messages and sending acknowledgements and status updates to the External Trade Source. The solution is based on B2BITS' generic server FIXEdge®, extended with MQ adaptors.

FIXEdge® is responsible for:

  • managing FIX sessions with the External Trade Source
  • receiving trades from the External Trade Source and forwarding them to internal systems for further processing via IBM WebSphere MQ
  • receiving acknowledgments and status updates for reported trades from internal systems via IBM WebSphere MQ and forwarding them back to the External Trade Source via FIX

FIXEdge® technology was used to implement the Trade Capture Hub for The Clearing House:

  • Integration with internal systems is done via MQ Adaptor
  • System operates 24x7 and handles more than 30 Clients' sessions
  • FIX Integrated Control Center is used to configure and monitor the Hub
  • Approximate daily volume is more than one million messages
  • High throughput (see benchmark links)
  • Support of multiple FIX versions (FIX 4.2, FIX 4.4, FIX 5.0SP2, and custom FIX dialects)
  • Message transformation on the business level (FIX->FIXML transformation and vice versa, exception handling)

Technologies and Tools


The implemented FIXEdge® solution creates a reliable integration of multiple exchanges and trading platform feeds with The Clearing House internal systems via IBM WebSphere MQ, with high throughput and low latency. The solution operates 24x7 with fully automated operations. It has been successfully used in The Clearing House's production since 2009.