A-Team Insight Blogs

FINOS Releases Version 1.0 of the Financial Desktop Connectivity and Collaboration Consortium Standard

Share article

The Fintech Open Source Foundation (FINOS), a non-profit organisation promoting open innovation in financial services, has released version 1.0 of the Financial Desktop Connectivity and Collaboration Consortium (FDC3) standard. Founded and contributed to by OpenFin, the initiative brings connectivity and standards to the financial industry’s desktop applications.

Gabriele Columbro, executive director of FINOS, says: “The FDC3 interoperability standard represents the first fundamental building block for an open, organically evolving ecosystem of applications on traders’ desktops. The end game is to enable optimal user experience delivered with high levels of efficiency.”

FDC3 was ratified in November 2018. Over 50 financial organisations have supported development of the standard, which has been built on active contributions from Adaptive, Citadel, FactSet, GreenKey, IHS Markit, JP Morgan, OpenFin, Refinitiv, Scott Logic, Tick42, and Wellington.

Nicholas Kolba, chief product officer at OpenFin and FDC3 programme co-founder and chair, explains: “For too long in financial services, humans have been the integration layer between their applications. Now, with the FDC3 1.0 standard ratified and released, we can enable automation and make the humans smarter, faster, and better.”

The FDC3 standard is expected to bring a new level of productivity and workflow automation to financial institutions. Its core goal is to make it possible for fintech developers to create applications, whether in-house or third party, that can interact seamlessly without the need for bilateral agreements or proprietary application programme interfaces (APIs).

To evaluate and implement the standard, visit the FINOS FDC3 site.

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Recorded Webinar: High noon for surveillance: resolving tension between the costs of false positives, challenges of calibration, and compliance

When it comes to trade surveillance, regulators want firms to do their own alert calibration, examine all alerts, and keep auditable records. Firms need to balance the real cost of false positives with the technical challenge and risk of self-calibrating and auto-calibrating, while compliance, IT and vendors have to grapple with the need for defensible...

BLOG

Clearpool Aims to Democratise Electronic Trading with Algo Management System

Clearpool, a New York based provider of electronic trading solutions, is building out technology designed to democratise electronic trading through the provision of transparency, trust and control. The company’s flagship product is Algorithmic Management System (AMS), which allows all brokers, large and small, to access algorithms that can help them compete on a level playing...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Entity Data Management Handbook – Second Edition

Entity data management is this year’s hot topic as financial firms focus on entity data to gain a better understanding of customers, improve risk management and meet regulatory compliance requirements. Data management programmes that enrich the Legal Entity Identifier with hierarchy data and links to other datasets can also add real value, including new business...