The FIRE™ product includes a suite of system integration and routing solutions that address the interfacing requirements between trade order management systems, clearing vendors, and multiple fixed income Electronic Communication Networks (ECNs), Alternative Trading Systems (ATSs), and Interdealer Brokers (IDBs).
FIRE™ uses the Financial Information Exchange (FIX) protocol messaging system to communicate from end to end throughout the system. Other messaging protocols or proprietary data formats that are used by connected systems are translated into or out of the FIX protocol as necessary. This allows the firm’s internal systems and external vendor systems to communicate freely. Connecting another vendor or system to the network merely requires the addition of a gateway module to convert the data flowing from that system into the FIX protocol that is used throughout the network.