The International Securities Exchange is using Aegis Software's Client Simulator to test its FIX-driven order-routing system. Aegis' software simulates inbound, buy-side client order flow routed to a broker-dealer, exchange or ECN operating the FIX messaging protocol. The ISE is using Client Simulator to simulate customer order flow sent to its FIX platform.
In a new report, dubbed "e-Bond Trading in the US: What Goes Up, Must Come Down," Celent Communications states that the number of electronic fixed-income platforms fell from more than 70 in 2000 to roughly 40 by the end of 2001. Celent, in the report, also predicts that nearly 60 percent of all fixed-income trading will take place electronically by 2007.
MarketAxess, an online, multi-dealer trading platform for credit products, has added Barclays PLC as a participating dealer. Barclays, a fixed-income broker/dealer, is now one of thirteen global debt dealers that contribute prices and liquidity to MarketAxess.
ABN Amro has hired Ann Cairns to fill a newly created position: head of working capital business management. Cairns, who is now part of the management team of ABN Amro's new Working Capital group, most recently served as the chief operating officer of Citigroup's e-business unit.