OpenFin brings together leading capital markets participants to power industry application interoperability and desktop connectivity
March 8, 2018 – New York and London – A newly formed group of major finance industry players announced today that they have joined an OpenFin-led initiative to bring universal connectivity and standards to all of the financial industry’s desktop applications. The group, known as the Financial Desktop Connectivity and Collaboration Consortium or FDC3, is committed to addressing the increasingly fractured software landscape of capital markets. FDC3 standards will enable faster decision-making, improve productivity and streamline workflow. OpenFin, the first operating system created specifically for finance, and the industry’s only technology designed to be unifying and application-agnostic, has contributed the open-source code that serves as the cornerstone for this new initiative.
The financial industry is powered by thousands of desktop applications for trading, market data, order management, analytics and productivity. End users at banks and hedge funds use a combination of these in-house and vendor applications to do their work. Because these applications are difficult or impossible to connect to one another, end users are required to continuously re-key information, hampering productivity and creating operational risk. The FDC3 initiative will solve the problem by creating common software and standards across industry applications.
Members of the FDC3 include Algomi, AllianceBernstein, Barclays, BGC Partners, BNP Paribas, ChartIQ, Citadel, Cloud9, FactSet, Fidessa, GreenKey, IHS Markit, J.P. Morgan, Morgan Stanley, OpenDoor, OpenFin, OTAS Technologies, RBC, RSRCHXchange, Trumid, TP ICAP, Wellington Management Company, and others.