Saxo Bank, the leading Danish investment services provider and retail forex broker, announced it will be using the Fix8Pro technology as part of a new high performance market connectivity engine.
According to Michael Andre, chief technology officer of Saxo Bank, Fix8Pro offers a lightweight turnkey fix engine, which the broker could integrate in its our framework and solution. It allows quicker time to market, while retaining flexibility and execution speed close to a home built solution but without the sacrifices involved in more heavy handed frameworks.
Fix8Pro is a commercially supported C++ FIX framework based on the popular Fix8 open source project that was launched in 2014. It offers fast performance and maximum flexibility and control, as well as qualified support.
“We operate in the spirit of FIX which is a free, open-source language,” said David Dight, founder of Fix8 Market Tech. “Fix8 Market Tech provides high performance FIX products as well as consulting. Fix8Pro is the ‘secret sauce’ with self-generating code, and intelligent capabilities that push decision-making down the FIX layer for smarter FIX connections that reduce latency and streamline reporting.”
Fix8 has offices in Sydney and Moscow, with regional support in the US. It’s suited to enterprises that want to retain control of their FIX interfaces in-house, but don’t want to build from scratch. “It’s useful for larger sell-side and buy-sides, exchanges, regulators, market data providers and other non-participants,” Dight noted.
Saxo Bank, founded in Copenhagen in 1992, is a brokerage firm and a market maker. It holds a banking license from Denmark’s Financial Supervisory Authority (FSA). It offers trading in more than 30,000 instruments, including forex, binary options, CFDs, stocks, futures, and bonds through its proprietary online trading platforms SaxoTrader and SaxoTraderGO.
Meanwhile, Saxo Bank announced it has won multiple accolades by FX Week, Finance Magnates, HFM Asia Hedge Fund Services and Global Finance.