4 ms·

Interesting project More and more financial institutions are starting to implement messaging using the FIX protocol http://www.fixtradingcommunity.org/pg/main

Interesting project More and more financial institutions are starting to implement messaging using the FIX protocol http://www.fixtradingcommunity.org/pg/main/what-is-fix http://www.fixtradingcommunity.org/pg/main/what-is-fix

chollida1 12y ago
Really, my experience is the opposite. FIX is old, like 1992 old and its starting to show its age. Not that age is necessarily a bad thing, I just wanted to point out its age as your comment makes it seem like an up and coming protocol. My experience is that more and more firms are leaving it. Its' no longer suitable for market data. Its barley suitable for sending order messages around. And with the explosion of order types and growth I'm not sure that's a valid statement anymore. Its not anywhere near as compressible as binary formats. Many exchanges and dark pools have already replaced it with binary formats. What fix does have going for it are quickfix/j and a wealth of knowledge, which will keep it relevant for a long time, but
- lotsofcows 12y ago
  FIX can operate as a binary, compact ASCII or XML-like protocol. FIX has support for multicast. FIX has open source Java, .NET and C++ implementations. It's got a thriving development community and a non-profit, industry-driven standards body. FIX isn't going anywhere. No buts. Possibly you haven't looked at it since 1992...
  - minimax 12y ago
    But FIX _is_ going away in US equities as all of the major exchanges have adopted native binary protocols. We still have to deal with it in other asset classes, but I (as a developer) am not really happy about it. FIX/FAST is a massive pain in the ass relative to simple binary protocols.
JoelJacobson 12y ago
You could with benefit send FIX messages over BankAPI, as it doesn't define the content of the messages transferred.

4 ms·

Interesting project More and more financial institutions are starting to implement messaging using the FIX protocol http://www.fixtradingcommunity.org/pg/main

by Roonerelli 12y ago

chollida1 12y ago
Really, my experience is the opposite. FIX is old, like 1992 old and its starting to show its age. Not that age is necessarily a bad thing, I just wanted to point out its age as your comment makes it seem like an up and coming protocol. My experience is that more and more firms are leaving it. Its' no longer suitable for market data. Its barley suitable for sending order messages around. And with the explosion of order types and growth I'm not sure that's a valid statement anymore. Its not anywhere near as compressible as binary formats. Many exchanges and dark pools have already replaced it with binary formats. What fix does have going for it are quickfix/j and a wealth of knowledge, which will keep it relevant for a long time, but
- lotsofcows 12y ago
  FIX can operate as a binary, compact ASCII or XML-like protocol. FIX has support for multicast. FIX has open source Java, .NET and C++ implementations. It's got a thriving development community and a non-profit, industry-driven standards body. FIX isn't going anywhere. No buts. Possibly you haven't looked at it since 1992...
  - minimax 12y ago
    But FIX _is_ going away in US equities as all of the major exchanges have adopted native binary protocols. We still have to deal with it in other asset classes, but I (as a developer) am not really happy about it. FIX/FAST is a massive pain in the ass relative to simple binary protocols.
JoelJacobson 12y ago
You could with benefit send FIX messages over BankAPI, as it doesn't define the content of the messages transferred.