FIX: hither AND yon

By James Hartley, Vice President, Research, A-Team Group

A quick look into the activities of the FIX community, and the algorithmic trading products that refer to the specification, reveals some very interesting trends that will affect its future – and yours

The FIX protocol has generally been accepted as the de facto “standard” for electronic trading. Yes, there are other such protocols that can be used for a variety of specific instrument classes – many of them proprietary and some of them “open”. Yes, there are other messaging standards that complement, extend or even enable some of the same conversations that FIX conveys. And sure, FIX isn’t completely pervasive in the industry – yet. But no other effort within the financial services community has the momentum and general backing of such a large block of players. New participants are joining or existing members are increasing their FIX involvement, thus new FIX activities are commencing – and more importantly completing – with some frequency.

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