Quazar  ·  Quasi-stellar FIX source

The FIX fabric that works for every counterparty.

In principle FIX is the common language of the buy and sell side. In practice every counterparty speaks a slightly different version — separate channels per asset class, different dialects per order type, networks with their own routing logic. Quazar is the AI-native fabric that absorbs that complexity.

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2,500
Messages / sec
with persistence
20,000
Messages / sec
market data
10
Free inbound
connections, buy side
C++
Built for
performance

About

Twenty years of FIX, rebuilt for the AI era.

Quod Financial has built and run three generations of FIX connectivity and routing software — for our own business, at production scale.

Along the way we have navigated thousands of inbound and outbound gateways across disparate networks and routes. The problems are always the same: varying versions, dialects and rules; custom mapping and routing rules for each order flow; and labour-intensive certification. Networks are frequently proprietary with little cloud capability, and specifications are often out of date — errors that only surface during certification.

The result is familiar. Engineering teams end up as glorified IT support, spending weeks debugging tags instead of building trading infrastructure.

Quazar applies the 10x rule to FIX. A deterministic, low-cost, low-compute layer that lets AI manage the complexity underneath — built on a cloud-native architecture designed to absorb scale at a fraction of the traditional cost.

Whether you run a handful of connections or automate thousands of routes, you stop fighting the infrastructure.

How it works

A new paradigm.

Quazar sits between two FIX-enabled systems. Incoming messages are matched against your mapping rules, rewritten into the format the receiving system expects, and forwarded on.

01

Connect

Your OMS, or any FIX-capable application, connects to Quazar. No front-end changes required.

02

Normalise

Quazar applies your rule set — translating between FIX versions, correcting tags, mapping fields. Rules run from simple remappings to conditional transformations by asset class.

03

Route

The normalised message is translated into the receiving system's dialect and forwarded. Order lifecycle, parent/child relationships, algo parameters and execution IDs are preserved end to end.

04

Monitor

Session health, latency metrics and audit logs surface in a single control plane. Routing rules are managed through the REST API.

Capabilities

One fabric, not a web of bridges.

A bridge solves one connection at a time, and multiplies as every new counterparty needs its own. A fabric does the same translation work across every connection at once.

Routing

FIX-to-FIX routing with merge and split.

  • Pass-through, fan-out, funnel-in, many-to-many
  • Market data fan-out and drop-copy
  • AI and visual rule builder
  • REST-managed — no restart to change a route
  • Conditional and failover routing Coming

Session pool

Multi-session FIX engine with no hard session limit by design.

  • SSL-encrypted sessions
  • Sequence number and session settings via GUI
  • Shared SenderCompID and TargetCompID, split by SubID
  • Data dictionary changes without a session restart
  • Config rollback to last known-good state
  • Message replay from store, file or memory

Message manipulation

Transformation and mapping layer with a flexible script-like approach.

  • FIX 4.4 ↔ 5.0 conversion
  • Tag remapping, field defaulting, symbol suffixing
  • Regulatory enrichment — RegNMS, MiFID II, CAT
  • Truncation and conditional logic

Topology

Run one hub or many, interconnected over native FIX.

  • Independent hubs, each with its own isolated storage
  • Hub-to-hub links over standard FIX sessions
  • Deploy per region, per entity or per desk
  • Quazar to Quazar directly between counterparties

Continuity

Hubs are self-contained, so a fault stays where it happens.

  • No shared single point of failure between hubs
  • All configuration and rules stored and reloadable
  • Rollback to last known-good configuration
  • Automated hub failover Roadmap

Monitoring

Dashboards with admin and runtime route tracing.

  • Session, message flow and system health
  • Latency tracking and real-time alerting
  • Audit trail of who did what, and when
  • Message-level troubleshooting — view an incoming message, the rules applied, and the resulting outbound message
  • Full order grid 2026
  • Web UI 2027

Services

Managed, sorted.

Running hundreds to thousands of FIX connections is labour-intensive and, more often than not, an impediment to the business.

The cost of onboarding, certification and connectivity can be high enough that establishing a new client route becomes prohibitively expensive and slow. A route that should take days takes months.

We have streamlined and automated onboarding and certification using AI-driven auto-certification and testing. We use the cloud not only for compute, but to give you access to your own models and the wider cloud network.

What traditionally takes weeks of manual FIX certification compresses to hours.

Onboarding

Counterparty onboarding and certification run as a managed service, from spec analysis to production cutover.

Operations

Session management, availability monitoring, incident response and counterparty connectivity, against defined service levels.

Maintenance

Upgrades, fixes and template updates handled for you, on-premise or cloud-hosted.

Distribution

Cost matters.

Connectivity should not cost hundreds of dollars per connection per month. So for the buy side, it doesn't cost anything at all.

Buy side

Free to 10 connections

Download it, run it, plug in your own models or build your own MCP integrations. The full platform — routing, transformation, session management, monitoring and templates.

No plug-in cost · fixed price
Sell side

Cost-effective at scale

Managed in the cloud, with cloud-based routing across parts of your network. AI gives you deeper insight and greater control while cutting operational cost through automation.

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Free buy-side access means firms on both sides of a flow can connect Quazar to Quazar directly, removing fixed-network fees entirely. We do not charge for FIX-to-FIX connections.
We considered making Quazar open source. We decided against it, to protect the proprietary know-how we have spent twenty years building. Where a plugin serves the wider market rather than the core engine, we intend to publish it openly.

FAQ

Questions, answered.

General

What is Quazar?
An AI-native FIX Fabric: a high-performance platform for routing, transforming and managing FIX connectivity. It replaces fragile point-to-point infrastructure and expensive fixed networks with a single intelligent fabric you configure in minutes, not months.
Who is Quazar for?
Both sides of the flow. Buy-side firms connect directly to their brokers without paying per-connection network fees. Sell-side firms aggregate, normalise and manage hundreds of inbound client sessions through one platform.
Who builds and supports Quazar?
Quazar is built, supported and operated by Quod Financial — an owner-managed trading technology company with over two decades of FIX connectivity and trading systems experience. It is written in C++ for performance and reliability.
Is Quazar open source?
No. Quazar is proprietary software built and maintained by Quod Financial. It is free for buy-side firms for up to 10 inbound connections, with a growing library of pre-built transformation templates included.

Product & technology

What routing patterns does Quazar support?
Pass-through, fan-out, funnel-in, many-to-many, conditional routing, failover routing, market data fan-out and drop-copy. Rules are built visually or with AI assistance, and applied through a REST API with no restarts.
What message transformations can Quazar perform?
FIX version conversion (4.4 to 5.0 and back), tag remapping, value defaulting, symbol suffixing, message truncation, conditional logic, and regulatory enrichment for RegNMS, MiFID II and CAT. Transformations run as configurable rules with reusable functions, so common logic is written once and applied across connections.
How does session management work?
Quazar runs a hardened session pool with no hard limit on session count. It supports SSL, sequence number management through the GUI, configuration rollback, and message replay from database, file or memory.
How fast is it?
Quazar sustains approximately 2,500 messages per second with full message persistence enabled, and approximately 20,000 messages per second for market data. Performance without persistence is higher — contact us for benchmarks against your specific workload.
What FIX versions are supported?
FIX 4.x and 5.0, including cross-version conversion within a single flow. Custom dialects and non-standard tags are handled through the transformation layer.
Do I have to write code to configure it?
No. Routing and transformation rules are created through a visual rule builder, or described in plain language to the built-in AI, which generates the configuration for you. Everything is also available programmatically through the REST API.
What if a counterparty sends something that doesn't match the spec?
Data dictionaries can be changed without restarting the session. A counterparty sending a non-conforming or unexpected tag does not force you to drop the connection while you reconfigure — you adapt the dictionary and the session stays up.
What are Quazar templates?
Pre-built, validated transformation and connectivity configurations for common networks, brokers and venue specifications. Load a template, adjust it to your spec, go live. The library grows continuously.

Deployment & operations

How is Quazar deployed?
On-premise in your environment, or cloud-hosted. Either way Quazar is maintained by Quod Financial, so upgrades, fixes and template updates are handled for you.
Can I run more than one Quazar hub?
Yes. Hubs are independent and self-contained, each with its own isolated storage, and they interconnect over standard FIX sessions. Deploy per region, per legal entity or per desk, and link them without special infrastructure. This is also what allows two firms to connect Quazar to Quazar directly.
What happens if a hub fails?
Because hubs do not share storage, a fault is contained to the hub it occurs on rather than propagating across your estate. All configuration and transformation rules are stored and reloadable, with rollback to the last known-good state. Automated failover between hubs is on the roadmap.
Is there a managed service option?
Yes. Quod Financial can operate Quazar for you end to end, including session management, counterparty onboarding and monitoring.
Can I change configuration without downtime?
Yes. All routing and transformation changes are applied through the REST API or GUI with no restarts. Configuration rollback is built in.
How do I onboard a new counterparty?
Start from a template or build the mapping with the AI rule builder, then validate it with AI-driven automated certification and testing. What traditionally takes weeks of manual FIX certification is compressed to hours.

AI capabilities

What makes Quazar AI-native?
AI is built into the core workflow, not bolted on. It generates routing and transformation rules from plain-language descriptions, drives automated certification and testing, and assists with spec analysis when onboarding new counterparties. The core engine is fully available via REST API, so an AI agent can drive every operation.
Can I use my own models?
Yes. Quazar supports bring-your-own-LLM, so you can connect your preferred model. It also supports MCP, allowing your own agents and tools to interact with the platform directly.

Data, security & compliance

Does my order flow leave my environment?
No. Messages are processed and stored within your deployment. Quazar does not transmit your message content to Quod Financial or anyone else.
How is connectivity secured?
All FIX sessions support SSL/TLS. Access to configuration is controlled through the API and GUI, and every change is auditable with rollback.
Does Quazar help with regulatory compliance?
Yes. The transformation layer enriches messages for RegNMS, MiFID II and CAT requirements, and full message persistence and replay support audit and reporting obligations.

Roadmap

What is coming next?
Expanded template packs for major brokers and networks, a full order grid interface, and instrument identifier mapping with a cached instrument dictionary for automatic symbology translation. The template library and AI capabilities expand continuously.

Reference

Glossary.

The language of FIX connectivity, and the terms we use across Quazar.

Bridge
A point-to-point translator that maps one counterparty's FIX dialect onto another's. A bridge solves a single connection at a time — useful, but it multiplies as every new counterparty needs its own.
Fabric
Quazar's model. A fabric does everything a bridge does — translating between dialects, versions and tag conventions — and more: many-to-many routing, message transformation, session pooling, monitoring and AI-driven configuration across every connection at once. One fabric replaces a web of bridges.
FIX
The Financial Information eXchange protocol — the messaging standard the buy and sell side use to communicate orders, executions and market data.
Dialect
A counterparty's own interpretation of FIX: custom tags, version quirks and conventions that differ from the base specification.
Tag
A numbered field in a FIX message (for example 35=D for a new order). Each tag carries one piece of order or session data.
Session
A live FIX connection between two systems, with sequence numbering, heartbeats and recovery to keep both sides in step.
Normalisation
Converting varied inbound dialects into one consistent internal model, so downstream systems see a single, predictable format.
Routing
Directing messages between systems — pass-through, fan-out, funnel-in and many-to-many patterns — with merge and split.
Drop-copy
A duplicate stream of execution reports sent to a monitoring or compliance system, without touching the live order path.
Certification
The testing process that validates a new connection against a counterparty's specification before it goes live.
Order lifecycle
The full chain of an order — parent/child relationships, algo parameters and execution IDs — preserved intact through translation.
OMS / EMS
Order and Execution Management Systems: the front-office platforms that create, send and manage orders and their executions.

Get started

Connect. Translate. Quazar.

Whether you are connecting ten sessions or ten thousand, the conversation starts the same way.

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Quazar — a Quod Financial initiative  ·  sales@quodfinancial.com  ·  London · Paris · New York · Dubai · Hong Kong · Singapore · Toronto