FIX Global FACE2FACE – Mumbai 29 October 2009 ... - Plus Concepts

plus.concepts.com

FIX Global FACE2FACE – Mumbai 29 October 2009 ... - Plus Concepts

FIX Global FACE2FACEMumbai 29 October 2009

Straight Through Processing and FIX

Daniel Burgin, CEO, MetaBit

MetaBit Systems Co., Ltd

Nihonbashi Kitajima Bldg. 4F

1-13-1 Nihonbashi Kakigara-cho

Chuo-ku, Tokyo 103-00140014 JAPAN

Tel: +81-3-3664-41604160

Fax:+81-3-3664-41654165

Url: www.meta-bit.com


Benefits of STP

faster

1

• Reduction error trading and risks

automated

STP

safer

2

3

• Increase of transparency

• Avoidance of manual intervention

4

• Faster trading, processing,

settlement & clearing

economic


PF Mgmt

System

Risk Mgmt

System

Generic STP for Institutional Buy Side Order

Buy Side Sell Side Exchange

Placement Order Order Order

NOE

EMS/

OMS

Allocation

NOE

Module

[or]

NOE

NOE

Alloc.

Confirm

Allocation pre-agreed

or daily instruction

(often manual)

OMS

NOE

Middle-

Back-Office

NOE

Exchange

Gateway

Clearing

Book Entry

Transfer

(securities)

DVP Settlement

Book Entry

Transfer

(funds)

NOE

Exchange

Matching System

Clearing System

Settlement System

Securities

Settlement

Cash

Settlement


Where is FIX usually deployed in STP

Buy Side Sell Side Exchange

PF Mgmt

System

Placement Order Order Order

NOE

EMS/

OMS

NOE

NOE

OMS

NOE

NOE

Exchange

Gateway

NOE

Exchange

Matching System

Risk Mgmt

System

Allocation

NOE

Module

Alloc.

Confirm

Middle-

Back-Office

Clearing System

[or]

Allocation pre-agreed

or daily instruction

(often manual)

Securities

Settlement

Settlement System

Cash

Settlement

FIX in common use

FIX in use


FIX – A Global Standard

FIX is a global technology standard –

local market specialties should not become technology specialties

FIX Protocol represents a standardized toolkit that can be

applied to local market conditions.


FIX Coverage for STP

Technically the FIX Protocol supports STP, ranging from

order/execution to allocations, settlement, confirmation, position

maintenance to collateral management.

Questions –

Today, the FIX Protocol is mostly deployed concerning order/execution flow,

usually stopping short when it comes to allocations.

-Why is FIX not adopted more in the middle- and back-office area

- What are trends globally and how can India benefit

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