Jack Lemonik & Chip Lowry Jack Lemonik, Chair FPL Global Foreign Exchange Subcommittee Datalytiqs Group and Chip Lowry, Co-Chair FPL Global Foreign Exchange Business Practices Subcommittee, State Street Global Markets
Jack Lemonik & Chip Lowry Jack Lemonik, Chair FPL Global Foreign Exchange Subcommittee Datalytiqs Group and Chip Lowry, Co-Chair FPL Global Foreign Exchange Business Practices Subcommittee, State Street Global Markets

Leveraging FIX 5.0 for Foreign Exchange

Jack Lemonik and Chip Lowry provide an overview of FIX 5.0 Foreign Exchange enhancements.

First Published: e-Forex Magazine 29 / Standards / October, 2007

Since its inception in 1992 as a bi-lateral communication framework for equity trading between Fidelity Investments and Salomon Brothers, adoption and usage of the FIX Protocol has spread throughout the financial services industry like wild fire. The FIX Protocol has become the de facto messaging standard for pre-trade and trade communication globally within the Equity markets, and is now experiencing vertical expansion into the post-trade space, supporting Straight -Through- Processing (STP) from Indication-of-Interest (IOI) to Allocations and Confirmations. Additionally, it is gathering increased momentum as functionality expands horizontally across the Foreign Exchange (FX), Fixed Income and Derivative markets. From an FX perspective, it has been used by some organisations to support electronic trading for almost 10 years. FIX Protocol Limited (FPL), the organisation which owns and maintains the protocol, is keen to ensure that it continuously develops FIX to meet the ever swelling market requirements...continued

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