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.


This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

Asia Pacific

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Recommended Practices: Hong Kong SFC Facilitation Trade Consent 993.74 KB 312 downloads May 13, 2019

Approved-V0.5: 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...

    CAT NMS Plan – Consolidated Audit Trail

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    Recommended Mapping CAT Phase 2A (equities) 132.01 KB 286 downloads January 2, 2020

    2020/01/02 - CAT-FIX Mapping Phase 2A (Equities) messages to FIX messages based on CAT Reporting Technical Specifications for Industry Members Version 2.2, dated 24th June 2019. ...

      Execution Venue

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      FIX Execution Venue Reporting Best Practice Guidelines 439.75 KB 1432 downloads July 22, 2020

      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...
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      Recommended Practices for the use of FIX by Exchanges Phase 1 860.54 KB 1930 downloads January 25, 2007

      Provides recommendations for best practices for the usage of FIX by exchanges and ECNs. ...
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      Shanghai/Hong Kong Connect: ASIFMA & FIX Trading Community Implementation Guide 513.94 KB 569 downloads April 10, 2015

      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...

        Fixed Income

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        Best Practices for Bonds 9.66 MB 904 downloads January 21, 2015

        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. ...
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        Best Practices for Bonds - Pre-Trade Indications 185.72 KB 593 downloads December 1, 2014

        Defines a standard for the transmission of Indications - Axes Inventories and Runs. ...
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        Best Practices for Swaps (Phase 3) 7.65 MB 386 downloads May 8, 2014

        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...
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        Recommended Practices for Party Entitlement: OTC Markets - Fixed Income Instruments 1.63 MB 432 downloads November 5, 2013

        Provides detailed guidelines for the implementation of party entitlement messages for Fixed Income OTC electronic markets. ...
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        Recommended Practices for Party Entitlements - OTC Markets - Swaps 4.10 MB 436 downloads August 14, 2013

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

          Foreign Exchange

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          Recommended Practices for Party Entitlements - FX OTC Markets 2.37 MB 680 downloads April 30, 2014

          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. ...

            IPO

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            IPO Recommended Practices/Guidelines 396.55 KB 429 downloads January 28, 2015

            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. ...

              Market Data

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              FPL Recommended Standards for the Consolidation of Trade Reports and Market Data in Europe 727.60 KB 515 downloads February 6, 2017

              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...

                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 509 downloads February 1, 2018

                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...
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                Common Framework via FIX - Recommended Practices 1.02 MB 741 downloads March 11, 2016

                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. ...
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                Equity Allocations Via FIX - Recommended Guidelines FIX 42-44 Examples and Notes 1.18 MB 658 downloads May 4, 2015

                Contains examples associated with Equity Post-trade Processing via FIX, Guidelines, FIX 4.2, 4.4-V1.2. ...
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                Equity Allocations Via FIX - Recommended Guidelines v1.2.8 1.68 MB 574 downloads April 27, 2015

                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:...
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                Equity Options via FIX - Recommended Practices 549.65 KB 294 downloads January 30, 2018

                Defines industry practices for usage of the FIX standard to facilitate parallel implementation across buys-sides, sell-sides and intermediaries. v1.0 ...
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                Equity Swaps via FIX - Recommended Practices 1.46 MB 643 downloads April 12, 2016

                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. ...
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                Futures via FIX - Recommended Practices 1.47 MB 865 downloads February 8, 2016

                Addresses the post-trade workflow for futures and options on futures via FIX. ...
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                FX via FIX - Recommended Practices 1.94 MB 1862 downloads May 28, 2016

                Addresses the FIX Protocol for FX Placement, Allocation, and Confirmation/Affirmation workflows. Updated: 20190207 (v0.08) ...
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                Post Post-trade Confirmation Payments Recommended Practices 1.37 MB 180 downloads August 14, 2019

                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...
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                Qualified Vendor via FIX - Recommended Practices 777.79 KB 306 downloads May 19, 2016

                Includes the FIX Recommended Practices for interfacing with DTC Qualified Vendors. ...
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                SEF_FX_FI via FIX - Recommended Practices 1.39 MB 345 downloads May 5, 2015

                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. ...

                  Pre Trade

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                  Recommended Practices for Continuous Mass Quoting v1 190.31 KB 377 downloads July 10, 2007

                  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.   ...

                    Repos

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                    FIX Recommended Practices - Bilateral and Tri-Party Repos - Post-Trade 626.17 KB 61 downloads April 26, 2020

                    This document defines industry practices for common usage of FIX protocol for post-trade workflows for repurchase agreements (repos) in a bilateral setting.  (version 0.7) ...
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                    FIX Recommended Practices - Bilateral and Tri-Party Repos - Trade 723.74 KB 38 downloads April 26, 2020

                    The purpose of this document is to define industry practices for common usage of FIX protocol for Request for Quote (RFQ), Quote and trade messages for repurchase agreements in a bilateral setting. (version...

                      Risk Management

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                      Recommended Risk Control Guidelines (2012) 306.50 KB 465 downloads January 1, 2012

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

                        Transaction Cost Analysis

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                        TCA Best Practices for Equities 1.04 MB 942 downloads January 21, 2014

                        Develops industry-wide terminology and methodology for Equities, from pre-trade to post-trade analytics. ...
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                        TCA Best Practices for Equities_including IA comments 1.03 MB 498 downloads January 20, 2017

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