More NewsGartmore and DrKW live on SWIFTNet FIX

Gartmore and DrKW live on SWIFTNet FIX

Investment Management plc and Dresdner Kleinwort Wasserstein Securities Ltd. are using the SWIFTNet FIX service for the communication of FIX allocations, the payments network announced. Their move from the pilot programme to the early adopter programme, manes the two firms the first to use the SWIFTNet FIX service in live production. The early adopter programme was launched on 11 December 2002 and is expected to last through to the end of 2003. Firms participating in the early adopter programme will benefit from pricing incentives and will continue to provide input into the development of features and functionality. SWIFT is targeting 100 firms for participation in the early adopter phase of the SWIFTNet FIX programme. Chris Sims, head of development, Gartmore Investment Management. ‘The service allows us to eliminate the use of facsimile transmissions when sending allocations. Additionally, as part of SWIFT’s single window offering for securities messaging, it will potentially allow us to use one link for the whole securities transaction lifecycle, from trade order routing to settlement.’

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