FIX Protocol Ltd. (FPL) issued a request for proposal (RFP) to develop an Fix Protocol Limited-sponsored certification program. The RFP is available at www.fixprotocol.org. The deadline for submissions is November 17. The announcement of the selection of initial certifiers will be made in December.
U.S. Futures Exchange, L.L.C., the Chicago-based Eurex subsidiary, has filed an anti-trust action in federal court against the Chicago Board Of Trade (CBOT) and the Chicago Mercantile Exchange (CME) for illegally attempting to block the entrance of a new competitor into the futures market. The lawsuit charges the CBOT and the CME with violating the Sherman Act by offering $100 million in financial inducements to shareholders of The Clearing Corporation to vote against a proposed restructuring of the company. The U.S. Futures Exchange is seeking regulatory approval as a designated contract market and has entered into an agreement with The Clearing Corporation to provide clearing services for the new exchange's customers.
FIX City rolled out ioinet, a new pre-trade messaging service that allows sell-side traders using the Financial Information Exchange protocol to direct indications of interest (IOIs) and trade advertisement messages to specific buy-side dealers. In turn, buy-side dealers can receive IOIs and trade ads from a range of selected sell-side traders through a secure Web site via their desktop Web browser. FIX, an independent FIX consultancy based in London, chose TransactTools Inc. to host ionet. The service, which has completed a two-month pilot program, was developed with feedback from buy and sell-side firms, including Barclays Global Investors, Credit Suisse Asset Management, Legal & General Investment Management, Merrill Lynch Investment Managers, UBS Global Asset Management, Dresdner Kleinwort Wasserstein, UBS Investment Bank and Goldman Sachs.
TradeStation Group, Inc. plans to launch foreign- exchange-execution services next month and options-execution services during the first half of 2004, the company reports. TradeStation trading analysis software is known in the forex-trading community, and has been sold for the past seven years worldwide by Dow Jones Telerate, Bridge Telerate and MoneyLine Network as a premium service to institutional traders. They use it to design, test and optimize their forex trading strategies. Through an arrangement with an unnamed forex dealer firm, TradeStation will off the electronic placement of forex orders and options execution services.
OANDA, an Internet-based currency trading and information-services company, has launched an application-programming interface (API) for its electronic trading platform, FX Trade. Using a secure, authenticated session over the Internet, the FXTrade API enables customers to integrate the functionality that is available over the OANDA User Interface with applications such as order management systems, treasury systems and custom-built in-house applications. The OANDA FXTrade API Client Library provides foreign-exchange brokers, corporate treasurers, money managers, hedge funds and active retail traders with real-time execution, full-market transparency and tight spreads in a real-time customizable environment.