London Stock Exchange Selects Rapid Addition for FIX Engine

The London Stock Exchange has selected Rapid Addition for the provision of a FIX engine to its TradElect platform. The vendor’s RA-Professional engine will be used by the exchange in the development of an optional FIX 5.0 interface to TradElect. The interface is scheduled to go live this summer.

“Offering FIX access is an important strategic development for the Exchange,” according to the company. “By adopting FIX, a globally recognized messaging standard, the exchange will offer the widest possible range of customers, including potential new clients, simple and direct connectivity to its order books,” says a company spokesperson. 

 The partnership with Rapid Addition also will enable it to leverage the experience and skills of a FIX specialist, while it focuses on its core area of expertise: “developing and delivering enhanced trading functionality.” 

“We look forward to working with the London Stock Exchange in this and accelerating and facilitating future trades,” says Toby Corballis, CEO of Rapid Addition.

In laboratory tests Rapid Addition’s FIX gateway was able to process transactions more than 35 times faster than other FIX engines on commoditized hardware. RA-Professional is written in C# for the Microsoft .NET environment and can run on Windows, Linux, UNIX or Mac OS X operating systems.