BFX Trading, Clearing & Settlement Platform
DOME, our flagship exchange product suite, offers an integrated matching engine, including surveillance, risk management and clearing and settlement, which have made it the 'exchange platform of choice' for all new generation markets that need to provide industry leading price value performance to their customers and drive rapidly for liquidity and profitability.
Clearing & Settlement (CNS)
The CNS system is a multi-user system for Commodity Exchanges or their clearing corporation. CNS has been developed using 4th generation tools for user-friendly and improved interface, sturdy RDBMS (viz. MS-SQL Server) having capabilities of maintaining large databases leading to flexibility in keeping data of multiple years and even view data at any point of time across years.
Transacting in the BFX using FIX Protocol
The BFX platform is using FIX 4.2 in it is underlying platform thus, ISV’s who are using the same version of FIX can connect to the BFX and be able to transact within the market.
The Financial Information Exchange (FIX) protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to the securities transactions and markets.
The BFX has issued a document that describes the FIX messages supported in the BFX trading platform. This document will be provided to ISV's once they have signed up to be one of the BFX authorised ISV's.
The document which will be provided is going to describe the FIX API specifications for communicating with FIX Connect. FIX API specifications are based on the FIX protocol and cover transaction handling only. FIX Connect currently provides for translation of FIX messages only and does not provide the complete functionality provided by the FIX engine.
Receiving the BFX Market Data Feed
In order to receive the market data feed, the client (i.e. QVs, ISVs) need to open socket connection with the BFX Trading Market Data Server with a defined IP Address and defined port number using TCP protocol to receive the Data.
The client will be responsible for listening to the server and to do all the necessary transformation to the messages received to present to other parties.
The BFX will provide the client the ‘Info Market Data API’ document which provides a description of the protocol and message formats to be used for receiving the market data from the BFX’s Trading system. This document is generated for Information Technology personnel, especially system designers and programmers of user organisations and third party software developers (referred as a vendor/exchange Member). The BFX requires that the vendor/exchange’s Member undergo a conformance test upon completing development of the interface.
The Trader Work Station is the terminal which is used by the Member to access the trading system. Each trader has a unique identification by way of a Trading Member ID and User ID through which he is able to log on to the system for trading or inquiry purposes. A member can have several user IDs which allows for more than one employee using the system concurrently.
TWS.net is the first Trader Work Station software from the Exchange solutions suite to achieve Windows Vista ™certification. This certification assures that TWS.net is designed to take advantage of the unique benefits of running on Microsoft Windows Vista™ and will provide users with the highest quality Windows Vista ™ experience. The certification also confirms that TWS.net complies with a set of criteria that ensure a convenient and predictable user experience.
The Member Administrator is used to administer the Trader Work Station (TWS) for the Members.
Member Administrator is featured with following special functionalities:
- Column Profile
- TM Wise Online Backup
- Online Backup
- Lock Workstation
- Reset Password
- Windows Options
- Currency List
- Currency Pair Conversion Rate
- Open Interest Violation
- Open Interest Alert