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FIX Certification Vendors Prepare to Launch Service; MarketAxess Installs Cameron's FIX Engine; Nasdaq Names Brut's O'Brien to Market Data Position

FIX Certification Vendors Prepare to Launch Service

Certification of the FIX protocol for usage in fixed-income trading is taking center stage at this week's FPL (FIX Protocol Limited) Americas Conference in New York City. Both Aegis Software and B2BITS announced on Tuesday they are the first two designated certification vendors to complete cross certification of the entire Fixed Income Certification Suite.

At the same time, Javelin Technologies announced it had completed development of its automated FIX testing and certification tool, FIXertifier. Javelin has been utilizing the FIXertifier tools internally for FIX testing and certification purposes and now will launch them commercially.

Meanwhile, TransactTools completed development of the fixed-income certification tests back in June and those tests have been made available on a limited basis for the past few months. As a result of that pilot, TransactTools officials say the product is ready for prime time.

The Fixed Income Certification Suite is a series of test cases and test scripts designed to validate trading of fixed-income securities using the FIX 4.4 protocol. The scripts cover the complete life cycle of the pre-trade, trade and post-trade processes. Both buy-side and sell-side versions of the scripts are provided covering US Treasuries, agencies and corporate bonds.

Both Aegis and B2BITS have cross certified their offerings and have submitted the results for verification by Brook Path Partners, the consulting services firm that developed the fixed-income certification test scripts for FPL. Pending FPL verification of their log files, the two vendors will make their services available to companies seeking official FPL certification FPL certification from each company's Web site.

Javelin has also been preparing for the launch of the fixed-income certification initiative by implementing the FPL-generated test scripts and cross certifying with other designated vendors.

TransactTools contends that it's ahead of the other FIX certification vendors because it's been offering FIX certification as a commercial product for the past four years through ttCERT and Open FIX. "We've submitted complete testing logs and are anxious to get past ensuring consistency with the other vendors' services so this program can officially launch," says Brian Gay, vice president business development at TransactTools in a statement.

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