On October 3rd, FIX Trading Community along with RBC Capital Markets will host the New York Regional Meeting. This evening event provided delegates with a regional update, followed by a panel debate and close with networking drinks. The panel topic was ‘The Growing Impact of Artificial Intelligence (AI) in Financial Services’. “None of us here believe we are anywhere close to...
AI Finds a Role as ‘Collaborative Intelligence’ Models Come to Life
October 7, 2019January 21, 2023
The Consolidated Tape – It’s not easy but without standards it is impossible
Earlier this year at the FIX EMEA Trading Conference, Keynote Speaker Verena Ross, Executive Director, ESMA, discussed the fact that ESMA would be reopening the discussion around the need for quality market data and data standards. Since no consolidated tape provider had naturally emerged, ESMA would revisit the subject and if necessary, would look to mandate the provision of a consolidated...
September 30, 2019January 21, 2023
Brexit Working Group
Addresses potential changes related to a no-deal Brexit scenario to address trade reporting and Share Trading Obligations (STO) across EU and UK domiciles. • STO Indicator • SI Jurisdiction • Reported Jurisdiction Please click here to view the guidelines. FIX has produced several Extension Packs to address the gaps identified for Share Trading Obligations (STO). EP250 EP255
September 11, 2019January 21, 2023
Concepts-Part5-Service-Offerings-And-Session-Configurations
Orchestra Concepts Part 5: Service Offerings and Session Configurations The Orchestra Interfaces schema provides a standardized way to specify service offerings and configure sessions for connectivity. Overview Every system that allows customers or partners to connect uses some stack of communications protocotols. Those protocols must be specified to the peers in order to establish connectivity. We call an application-layer protocol...
August 30, 2019January 21, 2023
Asia Pacific – HK SFC consent to allow facilitation trades – Recommended Practices
In February 2018 the HK SFC published a circular specifying that prior consent was required from clients before facilitation trades could be executed by HK licensed firms. The recommended practice document represents the proposed solution for facilitation trade consent. Please click here to access the document.
August 29, 2019January 21, 2023
Concepts-Part5-Service-Offerings-And-Session-Configurations
Orchestra Concepts Part 5: Service Offerings and Session Configurations The Orchestra Interfaces schema provides a standardized way to specify service offerings and configure sessions for connectivity. Overview Every system that allows customers or partners to connect uses some stack of communications protocotols. Those protocols must be specified to the peers in order to establish connectivity. We call an application-layer protocol...
August 29, 2019January 21, 2023
Concepts-Part4-Actors-And-External-States
Orchestra Concepts Part 4: Actors and External States Messages convey information from one participant to another. Their actions and responses also depend upon persistent state information that can be defined in Orchestra. Overview The participants in a service play different roles. In FIX, the terms Party and PartyRole are very common. With respect to a trade, a party may play...
August 29, 2019January 21, 2023
Concepts-Part2-Workflow-and-Scenarios
Orchestra Concepts Part 2: Workflow and Scenarios In addition to message structures, an Orchestra file can also convey the workflow, or expected message exchange behaviors of a service offering. Scenarios are the key to Orchestra’s power. Overview A session in FIX or other financial industry protocol involves an exchange of application messages of various types (aside from the messages of...
August 27, 2019January 21, 2023
Consolidated Tape Will Not Make Data Cheaper
Market data consumers will still have to buy feeds from the providers, says FIX co-chair. Even if a European consolidated tape is built, trading participants will still have to buy market data feeds from the data vendors, says Matthew Coupe, co-chair of the EMEA regional committee and EMEA regulatory subcommittee at industry body FIX Trading Community. A consultation paper from...
August 21, 2019January 21, 2023
Post Post-Trade Confirmation Payments
The post trade working group has recently worked to address the heavily manual and fragmented process for periodic payments and cash flow operations management. Through a collaborative effort with industry participants working group members produced recommended practices and submitted extensions to the FIX Protocol. Please click here to view the recommended practices and here to view the extension pack.