Jack Lemonik Co-Chair FPL Global  Foreign Exchange Education and Marketing Sub-committee.
Jack Lemonik Co-Chair FPL Global Foreign Exchange Education and Marketing Sub-committee.

Leveraging FIX for FX: assembling the building blocks

Jack Lemonik outlines how FIX users may implement and integrate the FIX Protocol specifications for foreign exchange trading and the communication networks that may be applied.

First Published: e-Forex Magazine 25 / Standards / October, 2006

Since its inception in the early 1990’s as a bilateral communication framework for equities trading, the FIX (Financial Information eXchange) Protocol has continuously expanded to meet industry demand for support across additional asset classes and stages in the trade lifecycle. The opportunity to leverage FIX across these areas presents significant benefit to the financial community, as firms gain a competitive edge from automated and streamlined business practices. In 2003, the FPL Foreign Exchange Working Group was founded, clearly highlighting to the electronic trading industry that FPL was proactively working to expand the adoption and support of FIX within this market. In recognition of the growing importance of this work in 2005, the FPL Global Foreign Exchange Committee (GFXC) was created with participation spanning the foreign exchange community. This article aims to outline how FIX users may implement and integrate the FIX Protocol specifications for foreign exchange trading and the...continued

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