Taiwan-based Taipei Bank is rolling out order management software from Philadelphia-based FNX across its institutional and retail branch networks.
Built on BEA Systems' Weblogic server and utilising J2EE technologies, First Order is a Web-based order management system, designed for both institutional market making and retail trading environments.
In the first phase of roll out, the system will be used across Taipei Bank's institutional branch network to enter and monitor FX cash trades. These trades will be delivered into FNX's Sierra System - which is deployed at the bank's headquarters - for processing, accounting and recording.
Farid Naib, FNX's founder and CEO, says: "Although the flow of information is fully automated, the process is entirely transparent to the traders, risk managers, and accountants."
First Order will be rolled out to TaipeiBank's retail customers in the coming months.
FNX says the software provides full price publishing, order management, position management, real-time limit checking and audit trail functionality for FX spot, forwards, swaps, fixed income and money market trades.
In addition, First Order enables online position management and order status reporting and consolidates phone and Internet orders. The software also supports margin trading and delivers real-time market data.