These documents are produced to address specific implementation topics at the semantics or application level. They are produced by various committees or working groups, and are reviewed by the Global Technical Committee and the FIX® Community prior to official publication.

Asia Pacific

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DRAFT - Recommended Practices: Hong Kong SFC Facilitation Trade Consent 993.74 KB 166 downloads

UPDATED DRAFT, August 30, 2019: Recommended Practices, produced by the Asia Pacific Exchanges & Regulatory and Technical Subcommittees to address requirements by the HK SFC which requires prior consent from clients before facilitation trades could be executed by Hong Kong licensed firms.

Create date: May 13, 2019

    Execution Venue

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    Recommended Practices for the use of FIX by Exchanges Phase 1 860.54 KB 1704 downloads

    Provides recommendations for best practices for the usage of FIX by exchanges and ECNs.

    Create date: January 25, 2007
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    FIX Execution Venue Reporting Best Practice Guidelines 439.75 KB 1146 downloads

    Defines the usage expectations for the FIX fields that describe the final destination point of an execution, the capacity of the broker for that execution and the nature of liquidity (added or taken) for that trade.

     

    Create date: August 1, 2015
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    Shanghai/Hong Kong Connect: ASIFMA & FIX Trading Community Implementation Guide 513.94 KB 478 downloads

    Shanghai-Hong Kong Stock Connect, also known as Mutual Market Access or the "through train", is a pilot programme that signals the continuation of Mainland China's capital markets' opening to direct overseas investment.  This document is an accurate initial representation of the majority of the participants' expected workflows, both upstream and downstream of their order flow.

    Create date: April 10, 2015

      Fixed Income

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      Recommended Practices for Party Entitlements - OTC Markets - Swaps 4.10 MB 361 downloads

      Defines a standard set of guidelines based on Party Reference Data messages for exchanging enablement information for trading Fixed Income OTC instruments.

      Create date: August 14, 2013
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      Recommended Practices for Party Entitlement: OTC Markets - Fixed Income Instruments 1.63 MB 339 downloads

      Provides detailed guidelines for the implementation of party entitlement messages for Fixed Income OTC electronic markets.

      Create date: November 5, 2013
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      Best Practices for Swaps (Phase 3) 7.65 MB 291 downloads

      Support for the following workflows has been included as part of Phase 3 of the swaps best practices: recommendations to support the new regulations for SEFs; mid-market mark, US vs. non-US person, block trades, required vs. permitted transactions, etc., guidance on how to send tiered prices i.e. different prices for the same instrument to multiple customers, guidance on sending 'Axes' to indicate if you are a better buyer or seller, guidance on how to run auctions and how to support workups, support for stop orders, iceberg orders and peg orders and messaging from the execution venue to the dealer to confirm if a trade has been cleared.

      Create date: May 8, 2014
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      Best Practices for Bonds - Pre-Trade Indications 185.72 KB 484 downloads

      Defines a standard for the transmission of Indications - Axes Inventories and Runs.

      Create date: December 1, 2014
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      Best Practices for Bonds 9.66 MB 719 downloads

      Focuses on best practices for the cash bond markets, covering the vast majority of electronically traded bonds, including G8 Government bonds, High Yield, Corporates, Supras/Agencies.

      Create date: January 21, 2015

        Foreign Exchange

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        Recommended Practices for Party Entitlements - FX OTC Markets 2.37 MB 540 downloads

        Defines a standard set of guidelines based on Party Reference Data messages for exchanging enablement information for trading both Foreign Exchange as well as Fixed Income OTC instruments.

        Create date: April 30, 2014

          IPO

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          IPO Recommended Practices/Guidelines 396.55 KB 353 downloads

          Creates a practice that would bring the new issue order placing process in line with the same procedure used for secondary market orders and trade fills.

          Create date: January 28, 2015

            Market Data

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            FPL Recommended Standards for the Consolidation of Trade Reports and Market Data in Europe 727.60 KB 415 downloads

            This document details the recommended standards for the consolidation of trade reports and market data for European equity markets. These industry-driven recommendations mark an important milestone in the development of a European Consolidated Tape. The recommendations provide guidance, explaining how trade reports could be published in a standard manner to enable data to be more easily consolidated, significantly enhancing transparency and quality of data.

            Published: November 2012

            Create date: February 6, 2017

              MiFID

              Please click here to view all MiFID related documentation.

              Post Trade

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              Broker Allege and Asset Manager Confirm Request via FIX - Recommended Practices 423.14 KB 405 downloads

              This document defines industry practices for common usage of the FIX protocol for post-trade processing, for all asset classes, between buy-sides and sell-sides that can be use bi-laterally as well as through intermediary facilities.

              Create date: February 1, 2018
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              Common Framework via FIX - Recommended Practices 1.02 MB 622 downloads

              Describes the common framework for cross-asset buy-side to sell-side workflow for post-trade processing.  Note that pre-trade allocation is within the scope of post-trade processing.

              Create date: March 11, 2016
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              Equity Allocations Via FIX - Recommended Guidelines FIX 42-44 Examples and Notes 1.18 MB 537 downloads

              Contains examples associated with Equity Post-trade Processing via FIX, Guidelines, FIX 4.2, 4.4-V1.2.

              Create date: May 4, 2015
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              Equity Allocations Via FIX - Recommended Guidelines v1.2.8 1.68 MB 458 downloads

              Defines industry guidelines for a common usage of the FIX Protocol for post-trade processing between buy-sides and sell-sides that can be used bi-laterally as well as through intermediary facilities.
              UPDATE: 20171003 - Includes MiFID II recommended practices for post-trade commission unbundling and representation of commission types.

              Create date: April 27, 2015
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              Equity Options via FIX - Recommended Practices 549.65 KB 237 downloads

              Defines industry practices for usage of the FIX standard to facilitate parallel implementation across buys-sides, sell-sides and intermediaries. v1.0

              Create date: January 30, 2018
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              Equity Swaps via FIX - Recommended Practices 1.46 MB 514 downloads

              Addresses the two primary post-trade workflow types or equity swaps between the buy-side and the broker-dealer and swap providers.  The workflows include 1) Hedge-leg style 2) Swap style.

              Create date: April 12, 2016
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              Futures via FIX - Recommended Practices 1.47 MB 699 downloads

              Addresses the post-trade workflow for futures and options on futures via FIX.

              Create date: February 8, 2016
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              FX via FIX - Recommended Practices 1.94 MB 1544 downloads

              Addresses the FIX Protocol for FX Placement, Allocation, and Confirmation/Affirmation workflows.

              Updated: 20190207 (v0.08)

              Create date: May 28, 2016
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              Post Post-trade Confirmation Payments Recommended Practices 1.37 MB 64 downloads

              Document defines industry practices for common usage of the FIX Protocol for post-trade processing for all asset classes, between buy-side and sell-side that can be use bi-laterally as well as through intermediary facilities.

              Create date: August 14, 2019
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              Qualified Vendor via FIX - Recommended Practices 777.79 KB 251 downloads

              Includes the FIX Recommended Practices for interfacing with DTC Qualified Vendors.

              Create date: May 19, 2016
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              SEF_FX_FI via FIX - Recommended Practices 1.39 MB 280 downloads

              Focuses on the buy-side to sell-side workflow for trades executed on a SEF utilizing a pre-trade allocation workflow as opposed to "bunched" trades.

              Create date: May 5, 2015

                Pre Trade

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                Recommended Practices for Continuous Mass Quoting v1 190.31 KB 297 downloads

                Aims to be a guide to implementing the Mass Quotation function for equities, listed derivatives, foreign exchange and fixed income transactions using version 5.0 SP1 of the FIX protocol.

                 

                Create date: July 10, 2007

                  Risk Management

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                  Recommended Risk Control Guidelines (2012) 306.50 KB 395 downloads

                  Provides information around risk management and encourage firms to incorporate best practices in support of their electronic trading platforms.

                  Create date: January 1, 2012

                    Transaction Cost Analysis

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                    TCA Best Practices for Equities_including IA comments 1.03 MB 411 downloads

                    Further refines ongoing TCA requirements across asset classes. The common goal is to provide the industry with specific guidelines to promote TCA standardization.

                    Create date: January 20, 2017
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                    TCA Best Practices for Equities 1.04 MB 815 downloads

                    Develops industry-wide terminology and methodology for Equities, from pre-trade to post-trade analytics.

                    Create date: January 21, 2014