Technical difficulties: OpenFin says it’s committed to FDC3, while others have their doubts

After quietly pulling its Finos membership this year, OpenFin’s involvement—at least in the public forum that governs it—with the interop standard it has championed for years, continues to dip. Though the vendor has re-affirmed its commitment to FDC3 publicly, sources say its real position on the standard and open-source lies deep within the documentation of its newest offering, Workspace.

The application interoperability movement has been one of the key tech developments in the capital markets over the last five years. In order for it to succeed, it requires vendors and banks to work together in good faith. But what happens if one of the key vendors driving the movement decides to go in a different direction?

In 2018, OpenFin, a provider of desktop application interoperability, contributed a set of codified specifications for writing APIs and for messaging format, known as FDC3

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A few buy-side traders and portfolio managers spearheading a drive for greater interoperability are reaping the rewards of increased workplace efficiency. Is interoperability the fixed-income panacea the buy side has been looking for?

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