JOHANNESBURG – 21st of January, 2015 - Maitland and CheetahFIX limited are pleased to announce the successful inter connection between Maitland and the Orb Network to enhance the financial trading services and counterparty connectivity available to both Maitland’s clients and the Orb network’s members. The CheetahFIX ORB Network offers clients the latest technology on a fibre network, while ensuring a versatile, cost effective solution for routing financial trading information in South Africa and across the globe using the FIX protocol.
As the Johannesburg Stock Exchange (JSE) reduces its trading charges in response to global economic conditions, the CheetahFIX ORB Network assists in further reducing the costs of trading in South Africa by electronically connecting counterparties. Maitland’s adoption will provide their clients with open architecture and the flexibility to link through the ORB Network supporting the growth of trading volumes in South Africa and across the wider international trading sphere.
“We are delighted to be able to offer Maitland’s clients access to our Orb network through which they can seamlessly and efficiently reach the local South African sell side brokers and trade internationally via our cross connections into the global FIX network infrastructure. With our recent expansion to connect with the London Stock Exchange’s FIX network, LSEHub and now opening up this link to Maitland, we are steadily achieving our immediate goal to bring a high quality, cost efficient, FIX message routing service to the South African trading community. Working with Maitland we have been able to achieve integration of our systems to deliver immediate business choices for both Maitland’s clients and the current Orb Network trading members. It should be little more than a phone call to arrange new trading relationships or add dual redundancy for existing trading relationships.” – Melvyn Plumridge, Business Development Manager, CheetahFIX limited.
Andre Le Roux, Head of Business Development - Africa for Maitland commented “With the integration of CheetahFIX network into Maitland’s service offering, our clients can now attain flexibility and true business redundancy and continuity. The availability of enhanced FIX connectivity now makes it feasible for more clients to have more choice around the FIX messaging standard. Maitland’s service offering has been built on high levels of straight through processing and automation from the point of order management to the client’s fund administration at Maitland. This development will allow for further streamlined workflows and will unlock further efficiencies through the industries value chain.
We are excited to be part of this initiative and look forward to realising the value it creates for both our clients and the Maitland Group”.
Notes to the Editors
CheetahFIX Limited is a joint venture between Tauri Software Systems and Rapid Addition Ltd.
The joint venture has established the CheetahFIX Orb network, a platform agnostic FIX Messaging Network to be used by the financial services community. The Orb Messaging Network is hosted in Neotel (Pty) Limited’s Tier 1 data centre and runs Rapid Addition’s proven FIX routing software to provide superior levels of stability and performance. The network promotes the unencumbered use of FIX throughout Africa to provide the trading community with FIX-based solutions for the important issues facing the African market place.
For more media enquiries please contact:
- Melvyn Plumridge, Business Development Manager (RSA), +27 87 941 3263