What is FIX protocol used for?
The Financial Information eXchange (FIX) is an information and data protocol used to disseminate price and trade information among investment banks and broker-dealers. The FIX Trading Community is the non-profit entity created to ensure FIX continues in the public domain.
What is the latest version of FIX protocol?
FIX 5.0
Currently, FIX 5.0 is the latest version of FIX protocol specification that intoruced several breacking changes, comparing to FIX 4.
How does FIX work?
How does FIX work? Clients and brokers use software called FIX engines to connect using the FIX protocol. In order to begin a FIX session, Client A and Broker B connect their engines at a predetermined start time using a predetermined host and comp ID.
Who invented FIX protocol?
Robert Lamoureux
The Financial Information Exchange Protocol was originally developed in 1992 by Robert Lamoureux for trading equities between Salomon Brothers and Fidelity Investments. FIX is used for trade and pre-trade communication in the global equity markets and has become a de facto messaging standard.
What is fix format?
The Financial Information eXchange (FIX) protocol is an open electronic communications protocol designed to standardise and streamline electronic communications in the financial services industry supporting multiple formats and types of communications between financial entities including trade allocation, order …
What is the difference between FIX and API?
The REST API includes standard endpoints that are used by a wide variety of web services. The FIX API uses FIX (Financial Information eXchange), a standard protocol which can be used to enter orders, submit cancel requests, and receive fills.
What is FIX Gateway?
The FIX Gateway is a message routing service using the FIX Protocol, combining the benefits of a hub with the advantages of a direct connection. It has been introduced to provide the option of a single FIX connection to multiple global liquidity pools, including participants not previously accessed electronically.
Is FIX protocol still used?
FIX is widely used by both the buy side (institutions) as well as the sell side (brokers/dealers) of the financial markets. See FIX Trading Community Organization for an extensive list of major FIX users. FIX has become the standard electronic protocol for pre-trade communications and trade execution.
What is the FIX protocol?
The Financial Information eXchange ( FIX) protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to securities transactions and markets.
What is the original FIX message encoding?
The original FIX message encoding is known as tagvalue encoding. Each field consists of a unique numeric tag and a value. The tag identifies the field semantically. Therefore, messages are self-describing. Tagvalue encoding is character-based, using ASCII codes. The message fields are delimited using the ASCII 01 character.
What are the fields in a FIX message?
The FIX protocol also defines sets of fields that make a particular message; within the set of fields, some will be mandatory and others optional. The ordering of fields within the message is generally unimportant, however repeating groups are preceded by a count and encrypted fields are preceded by their length.
What is the wire format used in FixP?
The actual wire format is abstracted in the FIXP specification, so users may select a FIX encoding of their choice, so long as peers agree on a protocol to use. Early development has used Simple Binary Encoding.