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Johnson Investment Counsel Pick Rapid Addition's FIX Engine

The wealth management firm will use the FIX engine to automate the flow of trades between an internal system and ITG's Triton EMS.

Johnson Investment Counsel, a U.S.-based independent wealth management firm, has chosen Rapid Addition’s RA-Cub FIX engine to automate the flow of trades between an internal system and Investment Technology Group’s Triton EMS (execution management system).

RA-Cub FIX engine, a messaging engine for the FIX protocol, is an affordable and flexible service available to exchanges and MTFs, sell-side, buy-side, transaction hubs and independent software vendors, in either .Net/C# or Java versions, according to the company in today’s release.

In a prepared statement, Joe Schmaltz, senior software developer at Johnson Investment Counsel, commented: “Choosing Rapid Addition was a strategic decision for us. Having researched a variety of products on the market it became clear that they were the dominant player for a whole host of reasons. Importantly, our traders no longer have to double-key every order; freeing-up their time and further reducing error. As our business grows, we would certainly consider developing this relationship further, in order to benefit from additional upgrades.” After implementing the system in June, the provider of investment management and financial advisory services immediately benefited from entry level pricing, reduced total cost of ownership and accelerated ROI according to Ross Lucas head of sales at Rapid Addition. “Our product has also enabled STP access to multiple brokers, which avoids errors or delays in executing and reporting trades,” stated Lucas in the release.

Rapid Addition has over 70 clients worldwide, including several exchanges, and is a provider of FIX protocol and FAST related software solutions to the global financial community. The company’s chairman, Kevin Houstoun, is an expert in the FIX protocol, who designed the FIX Repository for FIX Protocol Limited (FPL). Houstoun co-chairs the FPL Global Technical Committee and is an active member of the FPL Global Steering committee. He is also a member of the lead expert group for the UK Government’s Foresight Committee on the future of computer-based trading.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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