Overview
This guide describes the interface between Transact and Financial Information eXchange (FIX) Standard capable software (for example, FIX engines), which is referred to as T24FIX.
T24FIX allows the direct communication of Transact with the market through either an OMS or an EMS to speed up the access time to the market.
It uses the FIX Standard version 4.4 (Click here for more details about FIX messages type and structure of this version), which is one of the most widely adopted versions of the standard.
The Financial Information eXchange (FIX) is an electronic communications standard describing messages exchanged for the real-time trades of securities and other financial instruments..
Supported Flows
T24FIX supports the following flows:
- Bidirectional flows: Instructions are initiated from Transact and their corresponding technical and business replies
- Unidirectional flows (incoming): Instructions and entire order workflow (such as Bloomberg unsolicited orders) initiated outside Temenos solution and the results brought to Temenos as fills (partial or total) interpreted as external trades.
The following Transact domains are available for the above mentioned flows.
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Flows |
Domains |
|---|---|
|
Unidirectional flows |
|
|
Bidirectional flows |
Securities |
The user can enter the data using the dedicated zero authorization versions defined on the applications from above domains.
Architecture
T24FIX interfaces perform the integration through messages using the point-to-point integration pattern. This pattern supports the fundamental requirement of the OMS, which is that each message can be sent only once.
The functionality of T24FIX interface is depicted in the below diagram:
Where,
-
FIX data collector (adapter) deals with the transformation of the messages.
-
FIX message router is optional, to be deployed when some routing of the incoming messages is required.
T24FIX Interface functionality can be described by the following steps:
Bidirectional, outgoing
- In Transact, order creation or cancelation generates events based on Integration Framework event and flow definitions.
- INTEGRATION.SERVICE publishes the events as JMS message.
- The interface captures the message, choses the appropriate Freemarker template to apply, and transforms the message payload from XML to FIX format.
- The resulting message is posted out of the Interface as a JMS message and further sent to an external FIX engine.
- Inside the FIX message, in a user-defined tag, a correlationId is sent out and is expected to be mirrored back with any FIX reply concerning that particular order.
- This helps in identifying the record to update in Transact for the incoming replies.
- A technical acknowledge of successful order transmission outside the interface is sent back to Transact.
Bidirectional, incoming
- The interface receives the answers from the external FIX engine in a JMS queue. The answers are transformed selecting and using one of the provided transformations depending on the message content.
- As a result of the transformation, an OFSML message is produced and injected in Transact.
- The ID of the record to be updated in Transact is retrieved from the correlationID tag.
- The response of the OFSML execution in Transact is received and processed accordingly.
Unidirectional
- A FIX message arrives to the interface as a JMS message
- The interface transforms the message using a freemarker template selected depending on the message type.
- The resulting import message is injected into Transact using OFSML messages.
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