FIX Flyer’s Market Data Handlers and Order Routing Gateways are being rolled out by both clients and exchanges
The BMV, the second largest stock exchange in Latin America, is improving its market data by replacing the old Setrib market data with a new and improved multicast binary protocol. At the same time, Mexican regulators have approved the entry of a second equities exchange called the Bolsa Institucional de Valores (BIVA). Before year end, BIVA will begin trading and providing Nasdaq’s binary ITCH market data. Flyer is pleased to help clients meet the demands of this growing market.
A Technological Challenge
With the introduction of additional equities exchanges in Mexico, new regulatory requirements place additional demands on brokers and their infrastructure. New broker systems must support both new market data protocols and multiple destinations with different versions of FIX. Brokers are beginning to upgrade trading infrastructures now. After initial rollout of BIVA and BMV market data, brokers will begin to offer best execution capabilities to their clients via state-of-the-art tools including market surveillance and smart order routing algorithms.
Flyer Has a Solution
Flyer has been working closely with its clients and partners for the past year to develop Market Data Handlers for BMV Multicast and BIVA ITCH. These Market Data Feed Handlers extend FIX Flyer’s solution by building upon it’s extensible FIX-enabled data platform to consume binary data formats, and via Flyer’s API-based middleware, normalize the data feed according to industry standards and custom requirements of the broker’s’ applications. While the specific protocols of the new data formats are new to the market, they are an extension of Flyer’s solutions.
As part of the regulatory changes, FIX Flyer gateways support trading at both exchanges with pre-trade risk controls to manage client inflows. Soon, Flyer will be releasing enhancements to support smart order routing and best execution in Mexico as defined by recently approved regulations.
It’s Easy to Get Started
Flyer’s software solutions can be deployed in parallel with existing market data infrastructure. API’s provide easy integration to existing data workflows and lead to reliable software deployments that can be easily tested and certified.
With over 120 clients worldwide, FIX Flyer develops advanced technology for managing complex, multi–asset securities trading using highly scalable software and network technologies. Clients include UBS, TD Ameritrade, Envestnet, GBM, Barclays, Berenberg Bank, Bank of America Merrill Lynch, Goldman Sachs, and JP Morgan as well as major exchanges like ASX and MexDer. FIX Flyer is headquartered in New York City with offices in Boston and Hyderabad, India.