Regulatory Engagement
Financial regulation has a direct impact on many FIX member firms and how they conduct their business. The FIX Trading Community is independent and neutral, focused on transparency, operational efficiency and mitigating risk. FIX responds to regulations with a focus on promoting the use of global standards to deliver clear and unambiguous data, improve the quality of implementation and reduce costs to the industry.
This page is a repository of documented regulatory consultation responses and other relevant materials provided by the FIX Trading Community in addressing regulatory requirements across the globe.
Current Consultations
Targeted consultation on integration of EU capital markets
ESMA MiFIR Review (CP4) – Derivatives transparency
Regional Repository
Asia-Pacific
FIX Trading Community response to Consultation Paper on Guidelines on Artificial Intelligence Risk Management from the Monetary Authority of Singapore 225.00 KB 7 downloads February 12, 2026
FIX Trading Community response to Consultation Paper on Guidelines on Artificial Intelligence Risk Management from the Monetary Authority of Singapore …
SFC-FIX Response to OTC Derivatives Regulatory Regime in Hong Kong 106.04 KB 3206 downloads August 27, 2012
FIX responded to a consultation from the SFC on the OTC Derivatives regulatory regime for Hong Kong. …
ASIC-FIX Adopted for Short Position Reporting 184.20 KB 1298 downloads August 12, 2010
FIX welcomes the Australian Securities & Investments Commission (ASIC™s) adoption of the FIX Protocol messaging standard for the reporting of short positions. Use of FIX enables market participants…EMEA
FCA consultation CP25-32 on transaction reporting 319.11 KB downloads February 23, 2026
FIX response to FCA consultation CP25-32 on improving the UK transaction reporting regime, February 2026 …
FCA consultation CP25-31 on the equities consolidated tape 985.92 KB 3 downloads February 18, 2026
FIX response to FCA consultation CP25-31 on the equities consolidated tape, February 2026 …
Regulatory Testing of Algorithms – Overview of Relevant Regulations 1.19 MB 320 downloads October 21, 2025
Regulatory Background References for EU/UK Testing of Algorithms for Contribution to Disorderly Trading Conditions and Stress Testing under MiFID II/MAR and Operational Resilience under PS 21/3 …
FIX Trading Community response to ESMA’s call for evidence on Transaction Reporting 0.00 KB 150 downloads September 22, 2025
FIX Trading Community responds to ESMA’s Call for evidence on a comprehensive approach for the simplification of financial transaction reporting …
FIX Trading Community responds to the FCA’s CP25/20 1.03 MB 103 downloads September 11, 2025
FIX Trading Community response to the FCA’s CP25/20: The SI regime for bonds and derivatives including Discussion Paper on equity markets. …
FIX response to ESMA’s MiFIR CP4 398.58 KB 57 downloads July 3, 2025
Response to the “MiFIR Review: Consultation Package 4 – transparency for derivatives, package orders and input/output data for the derivatives consolidated tape” …
EC Consultation 2025 Press release 204.45 KB 68 downloads June 19, 2025
FIX Trading Community responds to European Commission targeted consultation on development and integration of EU capital markets …
FIX responses to the EC consultation 191.32 KB 83 downloads June 17, 2025
FIX response to the European Commission’s targeted consultation on integration of EU capital markets …
Consultation Paper on the Amendments to the RTS on Settlement Discipline 83.46 KB 251 downloads April 16, 2025
FIX Trading Community to ESMA’s consultation on amendments to the RTS on settlement discipline, covering standards and automation in middle and back office processes to support T+1 implementation …
FCA DP 24-2 – Improving the UK transaction reporting regime 206.44 KB 163 downloads February 13, 2025
FIX Trading Community response to FCA DP 24-2 …
ESMA MiFIR Review (CP4) – Review of RTS 22 on transaction data reporting under Art. 26 and RTS 24 on order book data to be maintained under Art. 25 of MiFIR 710.79 KB 376 downloads January 16, 2025
FIX Trading Community response to ESMA MiFIR Review CP4 …
ESMA MiFIR Review (CP3) part 2 – Consultation On equity transparency (RTS 1 and CDR 2017/567), volume cap (RTS 3) circuit breakers (new RTS), SI (new ITS on SI notification), the equity CTP (new RTS on input / output data of the pre-trade and post-trade equity CTP) and the flags for non-equity transparency (RTS 2) 692.22 KB 428 downloads September 29, 2024
FIX Trading Community response to section 7 (equities consolidated tape working group and FIX FIRST subcommittee) …
ESMA MiFIR Review (CP3) part 1 – Consultation On equity transparency (RTS 1 and CDR 2017/567), volume cap (RTS 3) circuit breakers (new RTS), SI (new ITS on SI notification), the equity CTP (new RTS on input / output data of the pre-trade and post-trade equity CTP) and the flags for non-equity transparency (RTS 2) 692.22 KB 488 downloads September 29, 2024
FIX Trading Community response to sections 4, 8 and 9 (equities and fixed income consolidated tape working groups) …
ESMA MiFIR Review – Technical Standards related to Consolidated Tape Providers and DRSPs, and assessment criteria for the CTP selection procedure 716.65 KB 560 downloads August 27, 2024
FIX Trading Community response (equities and fixed income consolidated tape working groups, global technical committee) …
ESMA MiFIR Review – RTS 2, RTS on reasonable commercial basis and RTS 23 708.30 KB 408 downloads August 27, 2024
FIX Trading Community Response (fixed income consolidated tape and reference data working groups) …
European Commission Delegated Regulation on OTC Derivative Instrument Identification 794.72 KB 223 downloads July 11, 2024
EC OTC derivatives identifying reference data consultation FIX Trading Community Response …
CP23/32 – FCA consultation on bond and derivative market transparency – FIX Trading Community response 4.58 MB 1179 downloads April 3, 2024
This contains three files – the FCA’s consultation paper, the full response from the FIX Trading Community (‘response summary’) and a shortened version containing just the questions actually responsed…
FTC Response to CP23-15 Framework for a Consolidated Tape Final Submission 97.33 KB 271 downloads October 13, 2023
CP23/15 – The framework for a UK consolidated tape – FIX Trading Community response. …
DSS Letter Fix Trading Community Sept 2023 330.14 KB 223 downloads October 9, 2023
The FIX Trading Community is the industry-driven standards body whose standards underpin the global electronic trading community. We have been producing technical and business standards for nearly thirty…
Manual on Post-Trade Transparency – Response 78.30 KB 381 downloads April 4, 2023
FIX Trading Community response on Post-Trade Transparency Manual …
ESMA Market Outages – Consultation Paper Response 105.50 KB 395 downloads December 22, 2022
FIX Trading Community response to ESMA’s consultation regarding the management and communication of outages at trading venues, December 2022 …
FIX Trading Community Response to CP22/12 259.02 KB 2715 downloads September 22, 2022
FCA CP22/12 on Improving Equity Secondary Markets – FIX Trading Community response …
ESMA Opinion on Trading Venue Perimeter – Response 81.46 KB 2589 downloads April 28, 2022
FIX Trading Community response to ESMA’s opinion regarding the Trading Venue Perimeter, January 2022 …
ESMA DLT (distributed ledger technology) Pilot 88.01 KB 378 downloads March 31, 2022
FIX Trading Community response to ESMA’s call for evidence for the “DLT Pilot Regime and review of MiFIR regulatory technical standards on transparency and reporting”, January 2022 …
RTS 1 and 2 Consultation Response 235.06 KB 528 downloads September 23, 2021
ESMA CONSULTATION RESPONSE – FINAL RESPONSE …
ESMA – MiFID II_MiFIR CP on transaction reporting_refdata 285.54 KB 3075 downloads December 11, 2020
FIX Trading Community response to the ESMA consultation paper on MiFIR review report on the obligations to report transactions and reference data (November 2020) …
ESMA – Technical Standards on reporting_data quality_data access 170.84 KB 629 downloads July 3, 2020
03 July 2020 – This document is the FIX response to the ESMA consultation paper on the technical standards on reporting requirements, procedures to reconcile and validate the data and access by the relevant…Global
FCA consultation CP25-32 on transaction reporting 319.11 KB downloads February 23, 2026
FIX response to FCA consultation CP25-32 on improving the UK transaction reporting regime, February 2026 …
FIX 5.0 SP2 FIXimate with 20131209 Errata 17.24 MB 5 downloads February 19, 2026
Downloadable FIXimate 3.0 for FIX 5.0 SP2 Specification …
FIX 5.0 SP2 FIXML Schemas with 20131209 Errata 247.15 KB 3 downloads February 19, 2026
FIXML schemas for FIX 5.0 Service Pack 2 …
FIX 5.0 SP2 Repository with 20131209 Errata 394.94 KB 3 downloads February 19, 2026
Basic and Unified Repository for FIX 5.0 Service Pack 2 …
FCA consultation CP25-31 on the equities consolidated tape 985.92 KB 3 downloads February 18, 2026
FIX response to FCA consultation CP25-31 on the equities consolidated tape, February 2026 …
Recommended Practices Securities Lending Trade Enhancements 998.16 KB 4 downloads February 12, 2026
Guidance on using existing FIX protocol messages and tags for securities lending execution (i.e. messaging in support of borrowers and lenders agreeing securities lending contract terms). …
EP301 – Securities Lending Trade Enhancements 5.01 MB 47 downloads February 12, 2026
This extension pack includes enhancements to address gaps in the needs of Securities Lending for US Equities and US Corporate DTCC eligible DVP US Cash Collateral contracts. …
FIX Trading Community response to Consultation Paper on Guidelines on Artificial Intelligence Risk Management from the Monetary Authority of Singapore 225.00 KB 7 downloads February 12, 2026
FIX Trading Community response to Consultation Paper on Guidelines on Artificial Intelligence Risk Management from the Monetary Authority of Singapore …
Recommended Practices – Bond UK Consolidated Tape using FIX Protocol 454.48 KB 107 downloads January 29, 2026
This document provides an official specification for the usage of the FIX Protocol for the UK Consolidated Tape for bonds. This includes the FIX message schemas, mappings to the RTS, workflows and worked…
FIX Protocol Gap Analysis – LegRateSource Proposal 158.49 KB 5 downloads January 22, 2026
The Global Technical Committee has reviewed and preliminarily approved the Gap Analysis which proposes the addition of a leg-level rate source component based on the existing component RateSource. …
Bond Market Axe Distribution in Europe – December 2025 244.23 KB 16 downloads January 21, 2026
FIX Trading Community and ICMA White Paper Following an exploratory FIX workshop on the topic in May 2025, ICMA and FIX agreed to work together to explore the current state of electronic bond market axe…
European Equities Addressable Liquidity Definitions 791.00 KB 578 downloads December 9, 2025
This business standards document covers definitions of addressable liquidity for European equities. The lack of such standards has been a problem for the industry for many years, and improvements to post-trade…
FIX Recommended Practices – Securities Lending Trade Enhancements 1.12 MB 31 downloads December 8, 2025
The FIX Consolidated Working Group is working on recommended practices when using the FIX Protocol for securities lending (trade). This document has been submitted together with a FIX Gap Analysis to the…
FIX Protocol Gap Analysis – Securities Lending Trade Enhancements 133.12 KB 47 downloads December 8, 2025
The Global Technical Committee has reviewed and preliminarily approved the Gap Analysis which proposes extensions related to securities lending to provide support for US Equities and US Corporate DTCC…
Recommended Practices – MiFIR Transparency (Volume 1 – Reporting Formats) 1.43 MB 910 downloads November 30, 2025
This document contains guidance on using FIX standards (specifically the FIX Protocol and MMT) for transmitting and using post-trade transparency data in European securities. It is based on guidelines…
Recommended Practices – Bond EU Consolidated Tape using FIX Protocol 943.08 KB 437 downloads November 25, 2025
This document provides an official specification for the usage of the FIX Protocol for the European Consolidated Tape for bonds. This includes the FIX message schemas, mappings to the RTS, workflows and…
Recommended Practices – Equities EU Consolidated Tape using FIX Protocol 1.83 MB 124 downloads November 25, 2025
This document provides an official specification for the usage of the FIX Protocol for the European Consolidated Tape for equities. This includes the FIX message schemas, mappings to the RTS, workflows…
EP300 – EU Consolidated Tape for Bonds and Equities 5.01 MB 3893 downloads November 6, 2025
This extension pack includes enhancements needed to support the EU’s consolidated tape (CT) for bonds and equities defined by ESMA as part of the MiFIR Review Final Report – Technical Standards related…
FIX Global Trading Sponsorship 2026 0.00 KB downloads November 5, 2025
FIX_Global-Trading-Sponsorship_2026 …
Regulatory Testing of Algorithms – Overview of Relevant Regulations 1.19 MB 320 downloads October 21, 2025
Regulatory Background References for EU/UK Testing of Algorithms for Contribution to Disorderly Trading Conditions and Stress Testing under MiFID II/MAR and Operational Resilience under PS 21/3 …
Recommended Practices on Unique Identification of Algorithms and Certificates 998.16 KB 47 downloads October 21, 2025
Guidance on formatting of unique algorithm identifiers. This accompanies related recommended practices covering testing and certificate workflows. …
FIX Trading Community response to ESMA’s call for evidence on Transaction Reporting 0.00 KB 150 downloads September 22, 2025
FIX Trading Community responds to ESMA’s Call for evidence on a comprehensive approach for the simplification of financial transaction reporting …
Technical Session Slides: Frankfurt Regional Meeting 2025 5.03 MB downloads September 19, 2025
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FIX Trading Community responds to the FCA’s CP25/20 1.03 MB 103 downloads September 11, 2025
FIX Trading Community response to the FCA’s CP25/20: The SI regime for bonds and derivatives including Discussion Paper on equity markets. …
FIXing Europe – How the European Consolidated Tape can radically improve the image of European capital markets 707.36 KB 105 downloads September 10, 2025
White paper detailing how the European Consolidated Tape can radically improve the image of European capital markets through use of improved flagging, clarity of rules and adoption of common standards. …
FIX Recommended Practices – EU Consolidated Tape (Equities) 1.92 MB 825 downloads September 7, 2025
The FIX Consolidated Working Group is working on recommended practices when using the FIX Protocol for the EU Consolidated Tape. This document has been submitted together with a FIX Gap Analysis to the…
FIX Recommended Practices – EU Consolidated Tape (Bonds) 794.27 KB 35 downloads September 7, 2025
The FIX Consolidated Working Group is working on recommended practices when using the FIX Protocol for the EU Consolidated Tape. This document has been submitted together with a FIX Gap Analysis to the…
FIX Protocol Gap Analysis – EU Consolidated Tape 199.12 KB 619 downloads September 7, 2025
The Global Technical Committee has reviewed and preliminarily approved the Gap Analysis which proposes extensions related to the EU Consolidated Tape for bonds and equities (excluding ETCs and ETNs). …
FIX response to ESMA’s MiFIR CP4 398.58 KB 57 downloads July 3, 2025
Response to the “MiFIR Review: Consultation Package 4 – transparency for derivatives, package orders and input/output data for the derivatives consolidated tape” …
EP299 – MDEntryType(269) extension 4.25 MB 634 downloads June 24, 2025
This extension pack supports the requirement to publish adjusted reference settlement prices due to corporate actions. It adds a new code value for the MDEntryType(269) = f (Corporate action reference…
EC Consultation 2025 Press release 204.45 KB 68 downloads June 19, 2025
FIX Trading Community responds to European Commission targeted consultation on development and integration of EU capital markets …
FIX responses to the EC consultation 191.32 KB 83 downloads June 17, 2025
FIX response to the European Commission’s targeted consultation on integration of EU capital markets …
FIX Protocol Gap Analysis – Market Data Entry Type Extension 110.84 KB 19 downloads June 7, 2025
The Global Technical Committee has reviewed and preliminarily approved the Gap Analysis which proposes an extension to market data entry types for adjusted reference prices due to corporate actions. …
MiFIR Review- Impact on FIX MMT (Draft) 1.89 MB 320 downloads April 29, 2025
The FIX MMT Committees are currently working on delivering the FIX MMT v5.0. This standard upgrade will cover the regulatory changes applicable to trade flags, as stated in the revised RTS 1, RTS 2 and…
EP298 – Allocation Enhancements 4.45 MB 769 downloads April 29, 2025
This extension pack enhances the capability to assign individual allocations of an AllocationInstruction(35=J) message to different average pricing subgroups and adds an allocation group identifier issued…
EP297 – Algo Trading Identifiers 4.43 MB 1384 downloads April 29, 2025
This Extension Pack covers a request to provide data on ExecutionReport(35=8) messages relating to the usage of execution algorithms on orders. Specifically, these changes allow brokers to communicate…
Consultation Paper on the Amendments to the RTS on Settlement Discipline 83.46 KB 251 downloads April 16, 2025
FIX Trading Community to ESMA’s consultation on amendments to the RTS on settlement discipline, covering standards and automation in middle and back office processes to support T+1 implementation …
EP296 – Korea Short Selling Registration Number 4.33 MB 1935 downloads April 16, 2025
This extension pack includes the ability for brokers operating in Korea and interfacing with the Korean Stock Exchange (KRX) to include their client’s institutional short sell identifier assigned by the…