Connamara and MACD announce that QuickFIX/J and QuickFIX/N now support the requirements for MiFID II, including nanosecond timestamp support.
With an ever decreasing range of commercial FIX engines available in the marketplace, Connamara and MACD believe that it is essential that the open FIX protocol has open source alternatives available, and demonstrating this commitment Connamara and MACD have upgraded QuickFIX/J and QuickFIX/N in preparation for MiFID II. The enhanced precision of timestamp data will assist capital markets participants in meeting the MIFID II transaction reporting requirements. “MACD is a great partner in supporting QuickFIX and we look forward to continuing its evolution with them” says Jim Downs, CEO, Connamara Systems while George Macdonald, CEO, MACD, adds “MACD has been successfully teaming up with Connamara since 2004. It is very satisfying to see how the global community has expanded in the intervening years.”
MiFID II regulatory reporting requirements will be enforced beginning in January 2018 and include strict clock synchronization and nanosecond time-stamping. Under MiFID II, firms need to demonstrate to regulators quantitatively that they have taken the steps necessary to provide their customers with best execution. Compliance with these mandates is greatly simplified with these new features integrated directly into QuickFIX/J and QuickFIX/N.
About Connamara Systems, LLC
Connamara Systems, the premier provider of matching engine technology for startup and frontier exchanges, provides commercial support for all versions of QuickFIX (C++, C#, Java, and Go). QuickFIX, the market leading open source technology, is continually evolving to meet the needs of the industry, and combined with enterprise support from Connamara Systems, provides firms operating in the capital markets the confidence needed to remain ahead of the ever evolving technology and regulatory landscape. Connamara practices agile software development and project management methods and has over 19 years of experience successfully delivering complex, distributed systems to the most demanding customers in the financial markets. www.connamara.com
As one of the first application service providers in the financial sector, MACD has been successfully implementing IT projects from and for financial institutions for more than 20 years. The company specialises in electronic securities trading, has locations in England, Germany and Switzerland and employs 35 IT engineers, computer scientists and economists. More than 35 banks and stock exchanges throughout Europe use the comprehensive range of services in the area of software development, hosting, IT consulting and support. MACD has been a member of the FIX Trading Community since 2004. George Macdonald, CEO MACD, is active as a Director of FIX Trading Community since May 2017. In May 2017 MACD announced the merger to join forces with the financial market software supplier OARIS. From 2018 on both companies will unite as one company under the name MACD. www.macd.com