Vol 66 Issue 3 2003-08-18 Article 10712 from section "Financial Services"

Shortened Settlement Times, Automated Straight-through Processing

The Financial Information eXchange (FIX) protocol has become recognized
as the leading open-messaging standard for electronic trading throughout
the industry. Sun offers a number of FIX-based solutions, and remains
active in the marketplace in the hopes that firms make a strategic
investment in their commercial relationship with Sun.

The FIX protocol is a public-domain specification and represents a
cooperative effort among leading buy- and sell-side firms, exchanges,
ECNs, clearing corporations, technology vendors and other industry
organizations. The technology is important to the industry because it is
able to offer firms shortened settlement times, automated
straight-through processing (STP) and electronic connectivity.

Sun's FIX offerings include FIXEDGE, which is based on Sun hardware and
B2Bits software, and FIXLITE, which is based on Financial Fusion's
Global FIX product suite. Convinced of the power of FIX, Sun continues
to push for innovations in this space and increasingly sees their
existing FIX appliance bundles changing the price dynamics of the market
deep into the buy-side. Sun also hopes that availability of simple
commodity FIX solutions will enable smaller, low-volume trading
institutions to adopt the FIX protocol, making it a truly universal
standard. (For more information on FIXEDGE, see article [10711] in this
week's issue.)

Details at

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