FIX and Regulations

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

None

Regional Repository

Please visit the below links to view previous responses submitted on behalf of the FIX Trading Community.

Asia-Pacific

Responses

EMEA

Responses

Americas

Responses

Global

Responses

Documentation

Asia Pacific

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SFC-FIX Response to OTC Derivatives Regulatory Regime in Hong Kong 106.04 KB 1333 downloads August 27, 2012

FIX responded to a consultation from the SFC on the OTC Derivatives regulatory regime for Hong Kong. ...
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ASIC-FIX Adopted for Short Position Reporting 184.20 KB 456 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

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    CP23/32 – FCA consultation on bond and derivative market transparency - FIX Trading Community response 4.58 MB 74 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...
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    FTC Response to CP23-15 Framework for a Consolidated Tape Final Submission 97.33 KB 79 downloads October 13, 2023

    CP23/15 – The framework for a UK consolidated tape - FIX Trading Community response. ...
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    DSS Letter Fix Trading Community Sept 2023 330.14 KB 67 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...
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    Manual on Post-Trade Transparency - Response 78.30 KB 177 downloads April 4, 2023

    FIX Trading Community response on Post-Trade Transparency Manual ...
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    ESMA Market Outages - Consultation Paper Response 105.50 KB 194 downloads December 22, 2022

    FIX Trading Community response to ESMA's consultation regarding the management and communication of outages at trading venues, December 2022 ...
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    FIX Trading Community Response to CP22/12 259.02 KB 1018 downloads September 22, 2022

    IMPROVING EQUITY SECONDARY MARKETS FCA : CP22/12 ...
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    ESMA Opinion on Trading Venue Perimeter - Response 81.46 KB 555 downloads April 28, 2022

    FIX Trading Community response to ESMA's opinion regarding the Trading Venue Perimeter, January 2022 ...
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    ESMA DLT (distributed ledger technology) Pilot 88.01 KB 224 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 ...
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    RTS 1 and 2 Consultation Response 235.06 KB 263 downloads September 23, 2021

    ESMA CONSULTATION RESPONSE – FINAL RESPONSE ...
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    ESMA - MiFID II_MiFIR CP on transaction reporting_refdata 285.54 KB 1160 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) ...
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    ESMA - Technical Standards on reporting_data quality_data access 170.84 KB 329 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...
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    ESMA Consolidated Tape Consultation Paper - FIX Response 249.39 KB 330 downloads September 13, 2019

    06 September, 2019 - The FIX Trading Community provided a response to the ESMA CP on Consolidated Tape. ...
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    ESMA MiFID II FIX Response Discussion Paper 669.67 KB 806 downloads February 16, 2017

    ESMA MiFID II FIX Response Discussion Paper ...
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    ESMA MiFID II FIX Response Consultation Paper 436.30 KB 1321 downloads February 14, 2017

    ESMA MiFID II FIX Response Consultation Paper ...
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    FIX Trading Community Response to ESMA CP 23 March 2016 508.10 KB 604 downloads March 23, 2016

    Response to ESMA CP 23 March 2016 ...
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    ESMA_MiFID II FIX Consultation Response_2014_1570 366.09 KB 582 downloads February 27, 2015

    This document is a response to the ESMA MiFID II/MiFIR Consultation Paper 2014_1570 (February 2015) ...
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    FSB-FIX Response to Feasibility Study on Approaches to Aggregate OTC Derivatives Trade Repository Data 28.33 KB 1197 downloads February 28, 2014

    FIX response to the FSB's consultative paper focused on options for aggregating OTC derivatives trade repository data. ...
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    CESR - FIX Response for Establishment of a European Consolidated Tape 0.00 KB 98 downloads November 2, 2010

    Following consultation with the FIX EMEA Regulatory Subcommittee, FIX produced a proposal for an industry led solution for the establishment of a Consolidated Tape Delivery Authority (CTDA) to oversee...
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    ESMA MiFID II FIX Response Covering Letter 112.45 KB 446 downloads February 15, 2008

    ESMA MiFID II FIX Response Covering Letter ...
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    CESR - Changes to FIX for MiFID 288.32 KB 515 downloads October 22, 2006

    A link to the gap analysis - Changes to FIX for MiFID. ...

    Americas

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    Regulation Best Execution SEC submission March 23 23.29 KB 207 downloads March 31, 2023

    Response to SEC rule proposal of December 2022 relating to Best Execution ...
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    Order Competition Rule SEC submission March 23 23.14 KB 187 downloads March 31, 2023

    Response to SEC Order Competition Rule rule proposal of December 2022 ...
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    Disclosure of Order Execution Information SEC submission March 23 22.73 KB 176 downloads March 31, 2023

    Response to SEC rule proposal of December 2022 relating to Order Execution disclosures ...
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    SEC shortened settlement cycle proposal response (April 2022) 26.00 KB 216 downloads April 12, 2022

    FIX Trading Community response to SEC proposal for shortening the settlement cycle (post trade working group, April 2022) ...
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    SEC 10c-1 securities loan reporting (supplementary response) 41.11 KB 229 downloads April 1, 2022

    FIX Trading Community supplementary response to SEC's proposed exchange act rule 10c-1 for the reporting of securities loans, as of April 2022 ...
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    FIX response to SEC rule 10c-1 (securities loan reporting) 169.73 KB 570 downloads January 5, 2022

    SEC rule 10c-1 proposal response from FIX Trading Community In late 2001, the SEC issued a proposal for a new exchange act rule (10c-1) covering the reporting of securities loan activity. The FIX Trading...
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    FINRA - FIX Responds to Proposed Changes to TRACE Reporting 86.82 KB 312 downloads October 5, 2020

    14th September 2020 - FIX Trading Community's response to Regulatory Notice 20-24 in regards to two proposed changes to the TRACE reporting rules.   Click here to view the response on line. ...
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    SEC - FIX Response to Alternative Identifiers for Securities 231.14 KB 204 downloads August 27, 2020

    12 August 2020: SEC - FIX Trading Community's response to the SEC File No. S7-08-20; Reporting Threshold for Institutional Investment Managers. Response to Q#25 regarding the permission for additional...
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    SEC - FIX & Regulation NMS Overview 58.00 KB 610 downloads February 16, 2017

    This document contains an overview of the RegNMS extension and links to copies of the gap analyses described above. ...
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    CFTC - Parts 43-45 Phase III FIX Gap Analysis 1.49 MB 302 downloads February 16, 2017

    CFTC - Parts 43-45 Phase III FIX Gap Analysis ...
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    SEC - FIX Response to Disclosure of Order Handling Information 239.49 KB 452 downloads September 26, 2016

    SEC - FIX Response to Disclosure of Order Handling Information ...
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    SEC - FIX Response to Consolidated Audit Trail 2 346.98 KB 421 downloads July 14, 2016

    FIX Trading Community's response to the SEC's File No. 4-698 - Joint Industry Plan; Notice of Filing of the National Market System Plan Governing the Consolidated Audit Trail ...
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    CFTC - FIX Response to Technical Specifications for Swap Data Reporting 1.69 MB 1211 downloads March 7, 2016

    Swap Data Reporting ...
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    SEC - FIX Response to Swap Data Reporting 619.80 KB 465 downloads February 22, 2016

    Swap Data Reporting ...
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    CFTC - FIX Responds to Review of Swap Data Recordkeeping and Reporting Requirements 39.56 KB 1114 downloads May 27, 2014

    Review of Swap Data Recordkeeping and Reporting Requirements ...
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    SEC - FIX Response to Regulation SCI 117.17 KB 367 downloads July 8, 2013

    SEC - FIX Response to Regulation SCI ...
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    SEC - FIX Response to Consolidated Audit Trail 39.71 KB 661 downloads August 5, 2010

    Please see FIX's reponse to the Consolidated Audit Trail proposal which was submitted on August 5th, 2010 ...
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    IIROC - FIX Adopted for Market Surveillance and Transaction Reporting 52.24 KB 1171 downloads May 6, 2009

    FIX is pleased to announce that it has developed an Extension Pack which will enable FIX 5.0 to support IIROC's new FIX-based market regulation feed specification for market surveillance and transaction...
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    OCC - Options Symbology Initiative 57.98 KB 927 downloads October 16, 2008

    This implementation guide includes the recommended approaches to implement the OSI changes within the various versions of FIX. ...
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    NYSE - Rule 80A Account Type Indicators 168.00 KB 416 downloads January 8, 2008

    In response to the evolution of program trading activities in the marketplace, NYSE has amended NYSE Rule 80A.40 to update the definition of account type indicators – “J” and “K”. These changes...
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    NASD - OATS Phase III FIX Gap Analysis 174.00 KB 1219 downloads May 18, 2006

    NASD - OATS Phase III FIX Gap Analysis ...
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    SEC - FIX Response to Securities Transactions Settlement 383.65 KB 985 downloads June 15, 2004

    FIX filed a response to the SEC Concept Release entitled Securities Transactions Settlement. This is the first time that FIX has responded to an SEC Concept Release. ...

      Global (IOSCO)

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      IOSCO - FIX Response to Harmonisation of the UPI 265.41 KB 331 downloads February 24, 2016

      Harmonisation of the UPI ...
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      IOSCO - FIX Response to CR02/11 Regulatory Issues Raised by the Impact of Technological Changes on Market Integrity and Efficiency 479.21 KB 357 downloads August 12, 2011

      FIX's Response to IOSCO Consultation - CR02/11 Regulatory Issues Raised by the Impact of Technological Changes on Market Integrity and Efficiency ...