What is FIX?

The Financial Information eXchange (FIX) Protocol is a technical specification for the electronic communication of trade-related messages. FIX was designed to make the electronic trading of securities easier and more efficient.

The FIX protocol was developed through the collaboration of banks, broker-dealers, exchanges, institutional investors, and information technology providers from around the world. These market participants developed a vision of a common, global language for the automated trading of securities, derivatives and other financial instruments.

As the market’s leading trade-communication protocol, FIX is integral to many order management and trading systems. Using FIX standardises communications with all counterparties, supports STP and reduction of entry errors, makes establishing new trading relationships quick and easy and increasingly supports cross asset trading.

FIX is used by virtually every major stock exchange and investment bank for electronic trading, as well as by the world’s largest mutual funds and money managers and thousands of smaller investment firms.

To find out more about FIX, visit the FIX Protocol Organisation website.