12 June 2002: NYFIX’s Javelin Announces Web Services Connection

NYFIX’s Javenelin Technologies subsidiary plans to add a web services connection to the 11 others currently supported by its FIX engine. The move toward web services and XML appears to be in response to client demand.

While the company says it plans to continue support for other middleware standards, including Tibco, Talarian and IBM MQ series, it believes web services will be a major step forward for the industry, particularly as it moves toward T+1 settlement.

Javelin will hook up with Ireland-based Iona Technologies, which will provide the web services components for Javelin’s FIX engine. The company expects the new FIX connection to be most applicable for low-volume transactions, and is initially aiming it at smaller buy-side institutions.

Javelin believes some larger sell-side institutions may be able to soft-dollar web services FIX connectivity to these institutions, particularly as web services take hold for internal communications within the sell-side firms.