FIX supports FX market efficiency with TESI extension

FIX Trading Community, has extended the Trading Enablement Standard Initiative (TESI) to include Foreign Exchange client enablement.

First Published by e-Forex News: October, 2014

Sassan Danesh

Sassan Danesh

FIX Trading Community, has extended the Trading Enablement Standard Initiative (TESI) to include Foreign Exchange client enablement. TESI uses FIX protocols to achieve more efficient and standardised communication for trading enablements. As a result of close collaboration with the FX community, TESI is now available to clients using FX execution platforms for FX Spot, Forwards, Swaps, FX Options, NDFs and Precious Metals trading. By using TESI, FX market participants can change pricing streams, map accounts, authorise new instruments or even suspend clients for trading and a message will be automatically distributed to all relevant parties using a standard protocol.

Sassan Danesh, Co-Chair FIX Trading Community OTC Products Committee, says that: “The extension of this initiative to FX is an important step towards multi asset class ‘Straight Through Enablement’ that will allow dealers to manage a previously manual process electronically using the FIX Protocol.”