ViSTRA
ViSTRA’s has a single objective and purpose to ensure that the integration of Buy and Sell side trading systems is as efficient as possible, both in deployment and production phases.
Moreover, because change in e-business technology is a certainty, it has been designed for complete adaptability, with Java object oriented programming language ensuring it is highly portable, reliable, secure and stable.
It operates on the following principles:
- Separation of business-logic and implementation details - eliminating the risk of being encumbered with an obsolete e-business technology.
- Open API- providing access to underlying business services through a well-defined public application programming interface.
- Common interfaces- abstracting business service offerings and defining clean interfaces means Integrators have only to write adaptive code once and are not impacted by changes in underlying implementation and/or the choice of service provider.
- Standards-based integration embracing emerging technologies such as FIX, XML and Web services.
ViSTRA is an enormously powerful engine that drives both V-Banking and other (Bank or ECN) platform trading functionality in respect of:
- Streaming market rates from data distribution platforms and/or trader rates contributed by proprietary applications.
- Responding to requests for executable prices. (Several pricing models are supported including RFQ (Request for Quote), RFS (Request for Stream) and ESR (Executable Streaming Rates).
- Request For Stream is supported by multi-bank trading portals including FXall and Currenex, where streaming of executable prices is short-lived, terminating once the auction period ends.
Executable Streaming Rates, the most contemporary model, provides continuous publishing of tradable rates to clients.
- Responding to order/trade requests from trading portals and integrating them with trading platforms and Order Management Systems and generating trade execution reports to indicate successful or unsuccessful fills.
- Providing post-trade STP, supporting hand-off both of auto-published and uploaded trade tickets and settlement and account allocation information to back-office systems.
Modular integration options
ViSTRA provides three integration modules, one or more of which can be used to implement your desired level of connectivity:
- Market Data Gateway- Sources real-time instrument rates from a bank’s chosen market data distribution platform and/or rate management applications for re-distribution to downstream trading applications.
- Trading Gateway- Provides a bridge between a Buy-Side and Sell-Side trading system, facilitating price delivery and processing of transactions in real-time.
- STP Gateway- this acts as a channel for the distribution of post-trade information from the Buy-Side to the Bank’s back-office deal capture, risk management and position-keeping systems.