MetaBit announces the delivery of a standardised FIX interface to the new JSDA (Japan Securities Dealers Association) file based OTC Reporting System scheduled to be launched late October 2008. The new system will replace the current OTC Reporting at JASDAQ, Japan’s OTC exchange, which is expected to merge with OSE in 2009.
MetaBit will deliver the production version of the new FIX gateway to its client base on September 26, 2008 to allow time for testing. The new product will support all available standard versions of FIX.
The FIX gateway to JSDA OTC Reporting complements MetaBit’s Alpha product line that provides high performance FIX-to-native exchange connectivity to TSE, OSE, JASDAQ and TOCOM (Tokyo Commodity Exchange). The technology is built on the world leading Orc CameronFIX platform.
“The upcoming OTC Reporting function requires Japan’s exchange members to report all OTC trades within five minutes of execution,” explains Daniel Burgin, MetaBit CEO. “The regulatory importance of timely reporting was the driver for this new FIX solution, in answer to our clients’ needs. It has been a somewhat unusual move, as the new reporting system is file based. Nonetheless, MetaBit’s new FIX interface to JSDA’s OTC Reporting will be critical to deliver a complete and standardised FIX solution for Japan’s markets. As a result we have seen immediate demand in the market place.”
In Japan, MetaBit is the only software provider of pure FIX to native exchange connectivity for all listed products at all major exchanges (TSE, OSE, JASDAQ, TOCOM).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment