Trading software provider Rapid Addition has announced the addition of 14 clients to its u-Broker sell-side FIX execution management system (EMS).
The new clients include five in Europe, such as Hungary's Erste Bank, seven in the Middle East including Naeem Holdings, Egypt and two new Asian members.
u-Broker is a web-based, order-capture programme which connects brokers to multiple institutions and supports multiple asset classes, including equities, equity options and futures. Its clients can accept and reject all orders from personal blotter screens, export data for automatic loading into third-party applications and receive FIX allocations from their counterparties.
The application is built on Rapid Addition's FIX Cloud service, which is designed to allow users to connect to counterparties on various FIX networks including Autex, the London Stock Exchange's network, Nex Rubica's Izuka Network and ITG Networks. u-Trader, a version of the application aimed at buy-side users, is scheduled for launch in Q4 this year.
“Our continued growth by any benchmark proves the value that the Rapid Addition product suite has to offer the market,” said Tony Corballis, CEO of Rapid Addition. “We are well positioned to continue to grow through 2010 and into 2011 and are excited about continuing to enhance and develop solutions that best serve our clients' needs.”