A Beginners Guide to FIX Protocol
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During the late 19th century, the trading firms realized the need for machine-readable message protocol, so that a trade wouldn’t be dropped or cannot be made complex. Once the world realized the need for standard electronic communication protocol, FIX Trading Protocol was established and a community called
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‘Fix Trading Community was formed.
What is FIX Protocol?
Series of messaging specification to streamline electronic communications
Used by financial securities industry to perform Trade, Post-trade and pre-trade operations.
A non-proprietary, free and open standard platform
Who could Participate? Regulatory bodies
Buy-side
Trading Platforms
Sell-side
Alternative Trading Systems (ATS)
Stock Exchanges
Multilateral Trading Facility (MTF)
Investment Banks
Custodians
The benefits of using FIX Protocol! Minimized
Increased
TRADING COST
TRANSPARENCY
X
Enhanced
Minimized
PERFORMANCES & EFFICIENCY
REDUNDANT & UNNECESSARY MESSAGES
What could be the challenges? Maintaining Multiple Connections
Supporting multiple FIX Message Formats
Achieving high speed for the connections
Secured & complex connectivity issues
Response should have low latency
Sensiple’s Solution to address these issues Sensiple launched PhiFIX, a suite of Multi-protocol (FIX, EMAPI, FAST, ITCH & OUCH) based messaging infrastructure to address the above said challenges in Capital Market Industry. The advantages of PhiFIX are, A Comprehensive robust, scalable FIX Connectivity solution. Supports Multiple Asset Classes, FIX Message Formats and various order routing systems. Reduced cost and the complexity of a connection. Low latency connections with high transparency in multiple connectivity. High speed transactions with secured connections
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