Banca Akros, the investment and private banking arm of Banca Popolare di Milano Group, has selected Itiviti’s VeriFIX testing, MagniFIX monitoring, and MetriFIX measurement products to deploy a comprehensive trading system module, according to an Itiviti statement.
Itiviti is a technology provider for the capital markets industry, offering a wide range of trading and risk management solutions. Banca Akros’ addition of Itiviti’s FIX infrastructure solutions will aim to reap the benefit of an expanded offering for sell side clients.
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The VeriFIX testing, MagniFIX monitoring, and MetriFIX measurement products constitute its core offering, which has subsequently been adopted by Banca Akros as it looks to develop a simulated market test environment for accelerated trading systems.
More specifically, Banca Akros will be utilizing Itiviti’s automated FIX testing with simulation and replay functionality of client data. Additionally Banca Akros will rely on Itiviti’s real-time monitoring and order flow management, with the hopes of supporting faster response times, in conjunction with a consolidated view of message flow cohesion.
According to Alessandro Caffarra, a lead for trading technology systems at Banca Akros, in a recent statement on the selection: “As Banca Akros enters the next growth phase, we are pleased to work with Itiviti to leverage their superior monitoring, metrics capture, testing and emulation solutions for greater business insight and trading efficiencies. We also appreciate that Itiviti enables us to add a key new functional element to our technology stack, while staying with a trusted supplier and partner.”
“Powering system consolidation for our customers within capital markets, whilst simultaneously providing best of breed solutions across the full technology stack, is core to both our strategy and those of our partners,” noted Lee Griggs, President of Europe Middle East, and Africa (EMEA) at Itiviti, in an accompanying statement.