Reasons to adopt FIX Protocol

What is the FIX protocol?

FIX stands as a short form for “Financial Information eXchange”. The FIX protocol is the specification developed for exchanging real-time financial information electronically. It is a standard information exchange protocol for pre-trade, trade and post-trade communications.

Why FIX protocol?

Over these decades the processes of Pre-trade, on trade and post-trade have been changed.
The need for FIX Protocol araised because many firms conceived their private message transferring formats. It was necessary to have some standard format for standardized communication. FIX offers a standardized and industry-wide solution.

Reasons to adopt FIX protocol are listed below:

Connectivity costs

For connecting multiple trading platforms worldwide, FIX reduces time and complexity.
When at first the firm made an initial investment in implementing FIX protocol, after that they can then grasp this investment over different partners. FIX protocol allows duplication from existing implementations. This results in low costs of establishing a trading platform, automated execution tool, etc.

Reduced operational risk and improve efficiencies

FIX protocol integrates internal processes and external operations. It also helps in reducing manual errors rates. FIX protocol enables processes to be executed more efficiently and with increased speed.

Flexibility

FIX protocol can be used in any programming languages such as C, C++, Php, Java.

Global Connectivity

Fix protocol gives global connectivity in any part of the world. It offers a standardized and industry-wide solution worldwide for pre-trade, trade and post-trade communications.

Bidirectional Connectivity

FIX protocol creates duplex connectivity which helps to send and receive data in both the directions.

Privacy

Taking privacy into consideration FIX protocol allows algorithms to run directly on computers without disclosing any information on commercial platforms.

If you have any requirements for FIX protocol-based solutions for Electronic Trading, do not hesitate to contact +91-20-49007800 or email- sales@fixsol.com