Fix Protocol has issued a white paper on foreign exchange, after a 2005 survey by TowerGroup predicted a sharp increase in its use among market participants. TowerGroup found that 15% of sell-side firms and 25% of the buy side they surveyed were already using Fix version 4.4 for FX trading; this is expected to rise to 40% and 60%, respectively, by 2008.
The Financial Information eXchange Protocol (Fix) originated in 1992 as a bilateral equity trading communications framework between Fidelity and Salomon Brothers.
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