Post-trade FX activities have been dramatically simplified by the FIX interface, allowing sell-side participants to navigate challenges such as liquidity fragmentation and to reduce total cost of ownership (TCO). The FIX protocol has been widely used in equity and fixed income, but is now increasingly popular, and powerful, in the FX world. Recent FX developments,...
Category: FIX in the News
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FIX Protocol Enables Pre-Trade Allocation – Global Trading Article
Regulators should recognise the properties of the FIX protocol in their discussions about the merits of introducing pre-trade allocation rules. By Damian Bierman, Global Co-Chair, Asia Pacific Technical Committee, FIX Trading Community, and Head of Asia-Pacific, Portfolio Management & Trading Solutions, FactSet There are already established standards and processes in place for buy-side firms to...
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FIX Trading Community FIX EMEA: Ten years of bringing the industry together – bobsguide article
Ten years ago the markets were in the middle of a significant downturn. As of March 2008, the FTSE 100 was at 5776 and the Dow 30 was at 14,237. Both indices had more pain to come, as the full extent of the financial crisis came to light. Of course, after a storm there is...
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FIX Releases Cybersecurity Guidelines – Waters Tech article
The FIX Trading Community released new cybersecurity guidelines for FIX-over-TLS (FIXS) standards after concerns were raised over the vulnerability of the Financial Information Exchange (FIX) protocol. FIX—a standard messaging language for most asset classes—set up a subgroup of the Cybersecurity Working Group to develop technical standards for using the Transport Layer Security (TLS) protocol. Discussions...
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MIFID II Data Deluge: Why We Need to Collaborate – Best Execution Article
It is now over 2½ years since the first meetings were held by a number of different FIX working groups to review MiFID II topics with the aim of providing guidelines and best practices for market participants. What has become clear since those first calls, was that many participants on the calls were also participating...
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Has the financial services landscape already changed following MiFID II implementation? – bobsguide article
With any and all significant legislation, the industry have voiced their opinions on MiFID II as the deadline came and went. The concerns, challenges and expectations from various industry leaders have been collated below. Yesterday, January 3, marked the seven year wait for the sequel legislation that builds upon the groundwork laid out by the...
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Simple Binary Encoding for high performance market data interfaces – Automated Trader article
The FIX Trading Community realised that its message encoding was no longer fit-for-purpose for high-performance trading. It came up with the Simple Binary Encoding (SBE) standard to balance the needs of latency versus bandwidth utilisation. We look at how the market data interfaces at the CME Group were implemented with SBE. Nowadays, a large proportion...
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MiFID II Opportunity For Buyside Dealers – Markets Media article
Huw Gronow, head of dealing at Newton Investment Management and co-chair of FIX Trading Community’s EMEA investment management subcommittee, said new regulations in the European Union offer a good opportunity for buyside dealing desks to add value to the investment process through using execution data. Gronow spoke on a panel last week at the London...
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FIX Industry Panel: Tech Versatility Must Rise with MiFID II, CAT’s Wild Arrival – Traders Magazine article
This winter’s regional FIX Trading Community briefing, hosted by Morgan Stanley in New York, brought out veteran technology experts and raised fresh questions as the industry stares down twin-barreled trade reporting mandates on both sides of the Atlantic—with MiFID II’s imminent January 3, 2018 go-live date, and deepening drama behind a missed November 15milepost for...
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FIX Americas Industry Briefing 2017: In Search of the Flux Capacitor – Traders Magazine article
From the improbable upside-down plane scene in ‘Flight’ to musing over the state of the Markets in Financial Instruments Directive (MiFID) in the future of ‘Bladerunner 2049’, this year’s FIX Trading Community event in Boston kicked off with references to the cinematic. But it was the keynote speaker’s analogy borrowed from ‘Back to the Future’—and,...