Middleware vendor Candle and FIX-based trading systems house Javelin have entered an alliance to provide a set of integrated STP business services for multilateral connectivity between financial institutions.
Under the agreement, the companies are to work on the integration of Javelin’s Appia and Coppelia Financial Information eXchange (FIX) engines with CandleNet eBusiness Platform.
“The solution that Candle has provided, along with its professional services, has resulted in our gaining a flexible operational environment for handling our everyday business process flows,” says Torbjörn Ericsson, CIO, Enskilda Securities. “This combination, along with Candle's connector to Javelin Technologies' FIX engine, has created a standard interface that will allow our clients and intradepartmental message flows to interact seamlessly.”
David Caddis, vice president, business services management, Candle Corporation, says the alliance with Javeling is designed to address the lack of internal and external automation within the securities markets and the reliance on multiple proprietary message standards. “The capabilities of our STP suite will be critical for organisations to overcome those obstacles and automate trade processing," he says. "It will enable firms to take advantage of immediate benefits while preparing to phase in full support for T+1 mandates.”