Arcons Unveils Full FIX Integration for Enhanced Trading Solutions
Arcons Technology, Inc. is leading the way in financial technology with its newly announced integration of the FIX protocol into its tradePort trading and rebalancing solution. This transformation allows firms to streamline the way they send trades and allocations, enhancing operational efficiency like never before.
What is tradePort?
tradePort is designed to support firms in creating trades based on diverse allocation models, whether they are executing one-off trades or operational transactions through cash adjustments. This system not only simplifies trade execution but also provides advanced functionalities such as firmwide tax loss harvesting with a single click, ensuring compliance with wash sale regulations. As advisory firms navigate complex trading landscapes, tools like tradePort can mean the difference between a smooth transaction and a cumbersome process.
The Importance of Timely Trade Execution
For firms managing numerous accounts, timely trade execution and allocation to custodians are crucial. This integration with the FIX protocol allows for efficient communication, ensuring that daily trades are executed promptly and correctly allocated to the respective investors’ accounts. Especially during quarterly rebalancing periods or daily trading, the volume of trades can become overwhelming, making FIX integration an invaluable asset for back-office operations.
Enhanced Efficiency and Accuracy
Arcons has collaborated with leading FIX providers, including SunGard and Flyer, to maximize the capabilities of tradePort. This partnership enables advisory firms to send trades directly to custodians through FIX with the ease of a single button click. Additionally, once trades are executed, they can be efficiently allocated to specific accounts using FIX messaging, reducing the potential for errors and improving overall record tracking.
Real User Testimonials
Users of tradePort have reported significant improvements in their trading operations. Jeff Smith, Managing Director at One Capital Management, praised the system's efficiency, stating, "We use FIX to execute the trades and are happy that tradePort is integrated with FIX. With accounts at multiple custodians, including Schwab and Goldman Sachs, the multi-currency trading challenge was effortlessly managed by tradePort. The Arcons team is incredibly responsive to our needs."
Automating Trade Execution
Arcons' CEO, Hemant More, highlighted the benefits for advisory firms: "With our FIX integration, the trade execution process is fully automated. We are excited to offer our clients this significant efficiency boost. The FIX connection, backed by providers like Flyer and SunGard, allows us to quickly accommodate additional custodians as needed." This automation transforms the way firms approach trading and serves as a powerful tool in maintaining agility in the fast-paced finance world.
About Arcons Technology, Inc.
Founded in 1998, Arcons Technology has established itself as a premier provider of customizable financial solutions. Today, their offerings are utilized by firms managing a remarkable $1 trillion in assets. Arcons presents a comprehensive suite of products under the Portfolio Edge branding, which includes modules for billing, reporting, trading and rebalancing, CRM, and advisor/client portal functionalities. Clients have the flexibility to select modules that best suit their operational needs.
Contact Information
For media inquiries, please reach out to Jeevan Gosavi at (650) 533-3452.
Frequently Asked Questions
What is the purpose of Arcons' tradePort solution?
tradePort enables financial firms to efficiently manage trades and allocations through integration with the FIX protocol, enhancing their operational processes.
How does FIX integration improve trading efficiency?
FIX integration allows for timely trade execution and accurate allocation, reducing the workload and potential errors for back-office staff.
Who are the key partners supporting Arcons with FIX?
Arcons collaborates with FIX providers such as SunGard and Flyer to ensure robust integration and support for their systems.
Can tradePort handle multi-currency trading?
Yes, tradePort is designed to facilitate multi-currency trading, managing complexities seamlessly for users.
What is the history of Arcons Technology, Inc.?
Founded in 1998, Arcons has evolved to provide tailored financial solutions that cater to the needs of firms managing over $1 trillion in assets today.
