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Saturday, January 16, 2010

FIX Protocol

The Financial InformationExchange (FIX) Protocol is a messaging standard developed specifically for the real-time electronic exchange of securities transactions. FIX has rapidly emerged as the most popular electronic trading standard worldwide though many exchanges has there own protcol for communication e.g. Omnet protocol used by Sydeny Future Exchange, AMS3 protocol used by HongKong Stock Echange , thought FIX protocol is most vast and widely used.

FIX Protocol is very flexible , while still offering a basic level of uniformity and consistency. In order to accommodate custom requirements, FIX has been designed to be fully customisable, as the precise order, and definition of many of the FIX fields is left up to the two transacting parties. However, the FPL has gone to great lengths to both root out ambiguities in the protocol as well as provide direction in areas of the protocol that are left open to interpretation.

A Fix Engine is the software which implements the fix protocol and which is used be broker , clients firms  for electroning trading .There are many commercial fix engines available e.g. Appia from NYFIX , Cameron Fix Engine etc.

1 comment:

Sanchit said...

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