IBS Journal December 2015


FIX Trading Community opens technical standards process for software development


FIX Trading Community, the non-profit standards body for global financial trading, is opening its technical standards process to software developers throughout the financial industry. FIX says the interface, hosted on the


Github platform, will ‘promote fairness, lower costs, and should lead to quality and reliability improvements’. Jim Northey, principal consultant and


industry standards liaison, CameronTec and co-chair, global technical committee, FIX Trading Community, says: ‘Our goal is to provide a FIX-based standard, including an open source reference implementation, that fully meets the requirements of the modern execution venue. The simple bina- ry encoding and the new FIX performance session protocol, both of which build upon the collective experience of the market place, are first steps in meeting this need.’ Several FIX projects have already been


published to Github and more are on the way.


The FIX high performance working


group is developing new protocols for trad- ing applications. Two specifications have been published in Github so far. Project FIXTradingCommunity/fix-sim-


©pixabay.com


ple-binary-encoding contains the specifi- cations for simple binary encoding, a FIX standard for binary messaging. The current version is release candidate 3. And, Project FIXTradingCommunity/


fixp-specification provides specifications for FIX performance session layer, a pro- tocol for exchanging messages between counterparties. Release candidate 2 was


recently published in Github. Additional encodings of FIX, such as


FIXML, Google protocol buffers, and ASN.1 will also be made available via this open process.


FIX says all of the projects allow ‘free


public access, and provisions are made to gather feedback from all developers’. Antony Peyton


Grameen Koota live with Temenos’ T24 core system, Tech Mahindra provides integration support


India-based Grameen Koota Financial Services has gone live with Temenos’ T24 core banking system for its microfinance business. Temenos teamed up with IT con-


sulting firm Tech Mahindra on the nine- month implementation project. The deal with Grameen Koota was inked at the end of last year. The roll-out was across 270 branches


in five states. The MFI’s 1.1 million-strong customer base and 2.3 million loans were migrated onto T24. Temenos says it has


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given Grameen Koota the ‘capability to achieve a daily loan disbursement for 10,000 customers’. Udaya Kumar, MD and CEO of


Grameen Koota, says: ‘The credit for achieving the successful transition to T24 in such a short period goes to the dedication and hard work put in by Arun Kumar B, head of IT, and his team members.’ For MFIs, Temenos offers a slimmed-


down version of T24 that is configured for the needs of the microfinance sector.


© IBS Intelligence 2015 www.ibsintelligence.com


The vendor claims 200 MFIs and micro- finance banks around the world on its user list. These include Enjaz Capital Islam-


ic Microfinance Bank (ECIMB) in Yemen, Amret in Cambodia, Commercial Bank Microfinance in Ghana, First Global Micro- finance in Nigeria and Waseela Microfi- nance Bank in Pakistan. Temenos’ long-standing, flagship cus-


tomer in this space is Opportunity Interna- tional, a global network of MFIs. Antony Peyton


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