Archipelago Clients Connect with Javelin FIX Engine

Archipelago announced last week that Javelin Technologies' Coppelia FIX server technology has been certified for client connectivity to the ECN. Building on its open architecture foundation, at least 10 Archipelago clients are using the Javelin FIX engine for electronic trading connectivity, says Jennifer Maik, director of client connectivity at Javelin.

"This is very important as a liquidity tool, because obviously it helps clients access Archipelago as easily as possible," adds Maik. Although she would not name the firms using the Javelin FIX engine, Maik says that the technology was "certified" by Archipelago after a series of tests, in which the ECN sent order flow back and forth using the Javelin product.

Maik says that as more and more clients begin using FIX in the electronic trading environment, the protocol will improve market liquidity and maximize order flow. "There are many different ways for clients to connect to us, including through a third-party network, through the Internet or a dedicated line," says Maik. "And if clients have the Javelin FIX engine, it makes the sending and receiving of trade messages back and forth much easier."

"Our philosophy has always been providing an open architecture and as many different ways for our clients to access us as possible," explains Maik. She adds that the use of the FIX engines, such as the Javelin solution, also shortens the time required for Archipelago clients to get up and running on the ECN. "Depending on what the client front end is and how the application works, they could be connected in a matter of a day," says Maik.