Fixml at the new york board of trade
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FIXML at the New York Board of Trade PowerPoint PPT Presentation


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FIXML at the New York Board of Trade. Why FixML for Nybot?. Reduce disruptive software changes to clearing member interfaces Minimize and facilitate costly testing efforts XML accommodates more ‘natural’ representation of exotic products Ability to shield against evolving FixML standard.

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FIXML at the New York Board of Trade

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Fixml at the new york board of trade

FIXMLat theNew York Board of Trade


Why fixml for nybot

Why FixML for Nybot?

  • Reduce disruptive software changes to clearing member interfaces

  • Minimize and facilitate costly testing efforts

  • XML accommodates more ‘natural’ representation of exotic products

  • Ability to shield against evolving FixML standard


Nybot s technology transformation

Nybot’s Technology Transformation

  • New technology is paving the way for FixML

  • Migrating from mainframe-centric Cobol applications to object-oriented technology

  • J2EE is new platform of choice

  • Building rich set of business objects offering a flexible design

  • Use of open standards

  • Moving away from rigid data structures for internal files and external interfaces


Current endeavors

Current Endeavors

  • New Clearing System - ECS


Ecs extensible clearing system

ECS - Extensible Clearing System

  • Developed by OnExchange

  • Key component of Nybot’s straight-thru-processing (STP) initiative

  • Functionality for real-time processing


Ecs extensible clearing system1

ECS - Extensible Clearing System

  • Benefits include:

    • Real-time visibility to trade data

    • Real-time posting of positions with re-calculation of original margins

    • Streamline reporting of exercise / assignment results

    • Improved asset management

    • Automatic notification of events

    • Move towards common user interface for firm functions

    • Browser visibility will eliminate emulation software


Ecs technology

ECS Technology

  • Nybot will use IBM’s AIX Platform

  • WebLogic for application server

  • Oracle for database server

  • J2EE Platform

    • Flexible design offers ability to readily introduce a variety of product types

    • Able to leverage rich set of Java APIs for XML processing


Current endeavors1

Current Endeavors

  • New Clearing System - ECS

  • Real-time transmission of post-trade data


Real time data transfer to firms

Real-time Data Transfer to Firms

  • Via ECS, foundation has been established for real-time transfer of post-trade data

  • Use of JMS - MQ bridge to satisfy preference for MQ Series

  • Real-time trade feed to clearing members:

    • Proprietary format (similar to TIPS intra-day)

    • One-way only

    • Currently available! (beta only)

  • Coming soon:

    • FixML format for trade feed

    • Ability to return trade confirmations


Timeframes

Timeframes

  • ECS Clearing System in parallel starting May ‘04

  • ECS runs in parallel 4-6 weeks

  • Real-time trade feed (in beta mode) available throughout parallel

  • ECS becomes ‘system of record’ in June

  • FixML version of trade feed by end of 2004


Future fixml efforts

Future FixML Efforts

  • FixML for:

    • Receipt of trade confirmations electronically

    • Adjustments to account information

    • Give-ups

    • Position reporting

    • Exercise instructions

    • PCS reporting


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