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GBST, Australia's largest provider of securities processing technology, and US based Cameron Systems, the leading provider of FIX industry standard messaging solutions, today announced an agreement to provide FIX automated order management capability for GBST systems. GBST provides trading, clearing, and settlement capability for the majority of Australia's stockbrokers.
An industry wide open protocol developed specifically for real time, seamless electronic exchange of securities transactions between funds managers, brokers and exchanges FIX (Financial Information Exchange Protocol) is widely used for communications between global market participants and access to global order routing networks and markets.
The recognised global industry messaging standard for transaction processing, FIX is becoming increasingly important for the Australian market. As brokers and funds managers come under the same cost pressures as some of their European and US counterparts, they will increasingly look for more efficient ways to execute trades.
FIX capability will enable our global clients to execute efficiently in any offshore market. It will also enable our retail broker clients to reduce their overall processing costs as the Cameron FIX platform interfaces to ASX trading systems, streamlining order management, reducing cost of manual processing, paper trails and the risk of failed trades.
Cameron is pleased to be able to announce this technology partner alliance with GBST and integrate the Cameron FIX platform within another world class application. Embedding Cameron FIX technology will enable GBST to further grow their business particularly as the adoption of the FIX protocol electronic trading standard gains further traction in the Asian markets.
Reducing costs for our clients is a major driver for GBST. Products that deliver processing in a straight through (STP) manner are an important feature of GBST systems. GBST products already support post trade FIX connectivity with local provider IRESS's order management system IOS, as well as OASYS Global Direct (OGD), one of the world's most widely used post trade confirmation services. GBST is delighted to be working with Cameron FIX to facilitate pre trade and execution management, because of the product's proven capability and Cameron's global reputation.
About GBST
Established in 1983 GBST (Global Banking and Securities Transactions) is the largest provider of securities transaction processing in Australia and a leading provider of transaction solutions for the financial services industry. GBST SharesTM, the trading, clearing, and settlement system preferred by the majority of Australian stockbrokers, processes up to half of all daily trades on the Australian Stock Exchange and also facilitates cross-border trading in New Zealand and Hong Kong.
GBST's core competence is real time integrated transaction processing which reduces costs and the need for and risks to capital for a wide variety of market participants, including: global investment banks, custodians, clearers, stockbrokers, exchanges, margin lenders, and cash management providers. With offices in Brisbane, Sydney, Adelaide, Melbourne, and Hong Kong, GBST has over 130 staff committed to providing advanced transaction solutions.
www.gbst.com
About Cameron Systems
Cameron Systems is the only globally proven Financial Information Exchange protocol [FIX] trading solutions provider for worldwide Brokers, Fund Managers, Exchanges, Transaction Networks and Software Vendors across the banking and financial industry. Celebrating 8 years of success in 2005 with more connections, more customers and more products, Cameron Systems continues to help grow financial markets worldwide by actively supporting and playing a leading role in the expansion of the FIX protocol. Cameron Systems has been a Premier Member of FPL the global industry body for FIX since 2003.
With offices located in New York, London, Sydney and Shanghai*, Cameron Systems works with its sales and support Partners globally and its worldwide client base to deliver greater efficiencies for all FIX trading to the thousands of institutions it connects in over 20 countries across Equities, Commodities, Fixed Income, Futures & Options and Foreign Exchange.
The world's leading banking and financial firms have selected the CameronFIX platform. These include Nomura Securities, Standard Chartered Bank, Credit Suisse First Boston, Singapore Stock Exchange, Fidelity Management and Research, Knight Securities, UBS, Citigroup, Barclays Capital, Charles River Development, CIBC World Markets, MarketAxess, Gartmore Investment Management, MFS Investment Management, Macquarie Securities and Dresdner Kleinwort Wasserstein.
* Shanghai Q2 2005
www.cameronsystems.com
About FIX
FIX standards for Financial Information Exchange. FIX is the world's preferred standard for financial markets trading connectivity for equities and is rapidly being adopted across all instrument types including foreign exchange, fixed income, commodities, futures, options and more. See www.fixprotocol.org for more information.
Contacts:
Annie Walsh, Cameron Systems
annie.walsh@cameronsystems.com , +61.412.867.068
Jamin Smith, Phillips Group
jsmith@phillipsgroup.com.au , + 61.7.3230.5000
7 April 2005.
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