Baring Asset Management

When Baring Asset Management (Barings) first decided to augment their existing broker connections in mid-2006, they investigated several possible hub providers offering multiple broker connections before deciding upon the London Stock Exchange’s FIX Gateway service.

Key factors in Baring’s decision to use the FIX Gateway were:

• Network neutral; they could continue using their existing network rather than being forced to use a supplier’s preferred network
• Lower cost; FIX Gateway costs are highly competitive
• Lower perceived risk; they were able to test the FIX Gateway service over their existing infrastructure without committing to a large investment in a new network
• Increased flexibility; they can add additional Hub providers or run more point to points if required
• Coverage; the London Stock Exchange gives access to a range of smaller niche brokers in addition to the larger firms, and was able to provide 98% of the coverage Barings required, versus 70% from the closest competitor

Since connecting to FIX Gateway, Barings have grown their connections to include brokers within mainland Europe, the US and Asia. These additional brokers have been quickly enabled with minimal IT support.

They have seen an increase in FIX equity trades processed through their OMS to in excess of 85% today.

Brian Mitchell, Head of Dealing & Portfolio Control at Baring Asset Management commented:

"Switching to the London Stock Exchange FIX Gateway service has proved a resounding success for us; we’ve extended our coverage and are seeing a steady increase in the volumes of FIX trades done through our OMS system. All this has been achieved at relatively low cost and with minimal risk, aided by the London Stock Exchange’s vendor and network neutral platforms. We are looking forward to growing our connections via the FIX Gateway over the coming year."