FinTrack develops customized, secure, real-time, internet-based trading systems for the core financial institutions that make or break markets. These are proven market systems for trading in Equities, Fixed-Income, and Interest Rate Derivatives.

In order to exploit the full power of the Internet, FinTrack's software has been created using open technologies that are platform independent. This flexibility provides a number of advantages for FinTrack's clients.

First, the use of emerging industry standards such as Java, CORBA and FIXML, ensures that FinTrack's software can be fully integrated with a firm's legacy systems, providing tremendous efficiency gains via straight-through processing and workflow control.

Additionally, our core set of configurable business logic and presentation classes enables customized solutions to be created quickly and efficiently. This allows us to provide unique solutions for our clients, supporting them in their efforts to maintain current customers and attract new ones.

This flexibility means that FinTrack can easily integrate with other third party packages, further expanding the range of services available.

In short, instead of being forced to alter business requirements to accommodate shortsighted technology design, customers will be able to fully realize the power of the Internet.

FinTrack has developed a well-proven framework supporting the creation of our Internet based trading systems. The framework can be divided into three parts: Server Side; Client Side; and Push Component.
e-Charm™       e-Cheers™

FinTrack's servers are open, scalable, distributed applications, based on Java and CORBA. Services on the server side provide for:

    *   database management for multi-user environments
    *   administration services
    *   integration with industry-standard site security management
    *   system and user-level audit trail
    *   a sophisticated trade negotiation engine
    *   publish/subscribe services

Integration with legacy systems is made simple through open interfaces and industry-standard message formats. This includes XML-based formats such as FIXML and FpML. In addition, customized interfaces and message formats can be created based upon your legacy system requirements. Other third-party products can also be incorporated, such as Tibco's Rendezvous, Reuters SSL, MQ Series, etc.

The server side framework is driven by two products developed by FinTrack: the e-Charm™ platform and the e-Cheers™ extension.
FinTrack's existing presentation framework supports the creation of dynamic data views. For complex systems, much of the appearance and functionality of the front-end is based upon entitlements. With our dynamic elements, pages are created on the fly and displayed based upon user profiles. Users can easily define the elements found on a given page.

Presentation widgets support all the basic control functions such as sorting, paging (rather than scroll bars), configurable table management, and other screen functions, to provide a very user-friendly Internet application.

FinTrack's presentation layer is offered in two flavors, depending upon the requirements of the application: one based purely on Java, and one that has been developed using Weblet technology.

Weblets are a combination of small Java Applets and DHTML (JavaScript, HTML, Style Sheets). They are extremely flexible and impose few system requirements on the client browser. Applet sizes are kept to a minimum and only browser-supported Java is utilized, eliminating the need for plug-ins.

Through the use of Style Sheets and well-designed JavaScript widgets, DHTML based screens can be developed in a relatively short period of time.

For more complex operations, the Java applet based solution offers exceptional performance and functionality. An extremely flexible class hierarchy ensures that screens can be developed and customized very quickly.

FinTrack has developed a patent-pending Push technology to support communication between our server and client elements. The Push component allows information to be securely "pushed" from the server to the client browser.

Typically, this functionality is mimicked through inefficient polling on the client or through the use of proprietary protocols and additional firewall ports. FinTrack's solution suffers from none of these drawbacks, providing the true real-time push that is required for any sophisticated trading system.

For a more detailed discussion, please see our HTTP/HTTPS Push Whitepaper.

FinTrack's Equity Trading system is a global trading application that allows dealers to interact with their sophisticated clients (fund managers, mutual funds, insurance companies, large corporations, etc.) over the Internet. Functionality covers real-time trading and monitoring as well as risk management and account maintenance.

The Equity System supports the real-time nature of the equity market. Users have the option to perform both single order and basket order trading, and receive real-time trade execution messages. Messages are FIXML compliant, allowing the system to route orders to either internal systems or defined exchanges.

Customers also receive indications of interest in real-time and have the option to filter incoming messages so only the desired data is presented. Real-time market data may also be incorporated, along with alerts, news and links to research data.

Back office functionality is supported through the incorporation of account management and static data maintenance facilities. Automated foreign exchange conversions are carried out in real-time, and the resulting trade orders may be routed to other systems via FIXML. Order allocation support ensures that all trades are directed to the correct account, and full reporting and end-of-day processing facilities are provided.

Risk management is supported through the standard analysis functions. This includes profit and loss analysis, market risk analysis, margin analysis, soft dollar analysis and more. With open interfaces and FIXML compliant data structures, the system can also be integrated with other legacy and third party risk management systems.

FinTrack is developing a system to support the Fixed Income market, allowing dealers to trade with their institutional clients over the Internet. Functionality covers price distribution as well as complex trade negotiation and matching.

With the Fixed Income system, dealers have the ability to intelligently manage trading books, define offerings, and control price distribution. This includes notification of user-defined market events and the ability to subsequently pull markets.

Customers may subscribe to prices based upon pre-defined criteria or user-defined filters. Prices are updated in real-time. New instruments or offerings are immediately distributed to subscribing customers. This information can be integrated with complex research data and support your customers in their price-discovery process.

Trading is accomplished either through negotiation or matching. A customer may send real-time trade inquiries to the dealer responsible for a particular instrument or offering. The dealer receives immediate notification and negotiation continues based upon customized business logic.

You can also incorporate time limits, such as on-the-wire or lockout periods, and each leg of negotiation may be accompanied by user commentary. An active trade blotter allows both sides to keep track of multiple inquiries, and complex business logic can be incorporated to ensure that inquiries are responded to in the desired order. Inquiries may include single deals to be responded to immediately, or blocks of offerings that are to be matched and either negotiated later or executed automatically.

All communication between customers and dealers is logged on the both the server and client sides, so full audit trail is available to the participants. Once a deal is complete, it may be passed to legacy systems via FinTrack's open interfaces and XML based message structures.

FinTrack's Interest Rate Derivatives system covers a broad range of products:

    *   interest rate swaps (plain-vanilla, cross-currency, basis, amortizing, etc.)
    *   forward rate agreements
    *   interest rate caps and floor
    *   collars
    *   interest rate guarantees
    *   bond options
    *   swaptions

Critical trade functionality has been incorporated, such as yield curve construction, volatility surface construction, scratch pads, price matrices and sophisticated pricing analysis tools.

Trades can be booked and confirmations sent directly from the system to support back office processing. The system also supports other complex functions such as portfolio analysis, credit risk analysis, market risk analysis and scenario analysis. Open interfaces ensure that proprietary-pricing models can be integrated and information can be shared with other risk analysis systems.

The derivatives system supports the ability to distribute and receive information over the Internet. Pricing data may be broadcast or sent specifically to defined customers. Customers may enter into a negotiated trading environment for standard deals, or use more sophisticated channels to discuss complex structured deals.

The ability to communicate across centers, combined with deal matching capabilities, assists customers in collateral management and efficient inventory maintenance.