Jack Lemonik is co-chair of the FIX Foreign Exchange Working Group
Jack Lemonik is co-chair of the FIX Foreign Exchange Working Group

Raising the standard – the quest for a common messaging protocol

Jack Lemonik tells us about why the FIX Foreign Exchange Working Group was formed and how it aims to facilitate FIX implementation in the foreign exchange markets.

First Published: e-Forex Magazine 14 / Standards / April, 2004

Last December the FIX Foreign Exchange Working Group was formed with the goal of driving FIX implementation in the foreign exchange markets. It was launched in response to interest from asset managers in the process of implementing FIX to support FX trading, and aims to provide a framework for distinct firms within the industry to work together. At FXall, asset managers were already working with us to solve the FIX implementation for foreign exchange trading. With the backing of these customers, we were determined to play a leading role in getting the FIX FX Group off the ground, and we are glad to see that a wide range of firms are joining us. Some 50 individuals from almost 40 organisations – including asset managers, liquidity providers, consultants, and technology vendors – have thrown their support behind the initiative, demonstrating that the drive for a common messaging standard has become one of the industry’s top priorities.FIX – a brief historyThe first version of FIX was...continued

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