Chronicle Software Launches Next Generation FIX Engine

London, UK, New York, NY, Singapore – 18 January 2022: Chronicle Software (Chronicle), a specialist provider of low-latency microservices and technology solutions for the financial services industry, today announced their latest FIX solution. The lowest latency, highest throughput Java FIX engine introduces new functionality and addresses global requirements to resiliently scale FIX deployments across large banking estates.

Paul Scott, Head of EFX, ANZ Bank recently commented “Chronicle FIX handles billions of price ticks per week, delivers consistent low latency, and never misses a beat”

A critical component of trading systems is the FIX engine. Chronicle FIX provides a robust and highly performant mechanism for financial markets participants to directly communicate through the FIX protocol. The latest engine enables users to carry out business-critical activities across multiple trading applications, supporting millions of messages per second and mapping different versions of FIX all within a completely resilient framework.

New developments include:

FIX Router – Each instance of Chronicle FIX serves thousands of connections and handles over 250,000 messages per second without compromising latency. The new integrated rule-based router uniquely enables users to scale their FIX Engines and route messages efficiently across the entire organisation’s network, reducing errors and time taken to manually replicate this function.

FIX mapper – Delivering a unifying schema, Chronicle FIX brings together all versions of FIX in one place, regardless of the protocol version or individual client nuance. The FIX mapper facilitates the automatic translation between different FIX versions. This enables an organisation to maintain its business logic with a single FIX version while allowing clients to use other FIX versions to connect to the unified business logic. This increases error-free trading as well as reducing time-to-market development, and maintenance costs, by enabling legacy applications using different FIX versions to be simply integrated.

FIX HA/DR – Engineered to ensure uninterrupted trading, prevent information loss and deliver millisecond failover to minimise downtime. The fully resilient Chronicle FIX high availability/disaster recovery solution kicks in immediately when a failure is detected, with the backup server live, following any required message replay, ensuring no data is lost. The multi-configurable DR supports both hot-hot and hot-warm instances, providing instant failover within, and across, data centres and networks with no additional licenses required for multiple backups.

 Peter Lawrey, CEO of Chronicle Software said: “In the past year we have invested significantly in our FIX Engine to meet the demands of some of the world’s largest Banks deploying FIX on a massive scale. Requirements satisfied have included a tier one bank running thousands of sessions at the same time and another saving $5m a year” He added “Our groundbreaking updates enable organisations to implement a truly unified, scalable and resilient FIX architecture, that removes any need for redevelopment, by integrating seamlessly with legacy applications. Chronicle continues to allow clients to maintain optimal solutions and reduce total cost of ownership by providing access to the source code underpinned by expert engineering.”

 

Andrew Twigg

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