FIX gets an upgrade
No, not this wonderful column – surely it can’t get much better, but that wonderful lingua franca (I think) of the modern trading environment known as the Financial Information eXchange (FIX) Protocol.
The first service pack for version 5.0 is now publicly available and can be downloaded from FIX Protocol’s (FPL’s) website at www.fixprotocol.org/fix5.0sp1spec
The update provides a wide range of enhanced functionality, including the communication of FX Exchange OTC settlement obligations at both the individual trade and aggregated level.
“FIX 5.0 Service Pack 1 provides the industry with the support needed to truly implement a standardized business model in the sell-side to market infrastructure space. It does this whilst continuing to add further value in the areas where FIX is the de facto market standard. Additionally, by making this information accessible in a Service Pack format, firms will be able to benefit from ease of implementation, which ultimately reduces the financial and resource investment required to adopt the new functionality,” says Kevin Houstoun, FPL’s co-chair global technical committee.