Financial information exchange (FIX)

Financial information exchange (FIX),

Definition of Financial information exchange (FIX):

  1. FIX communications include texting and email, securities trade allocations, news, order submissions and changing, advertising and execution reporting. Mostly used for business-to-business interactions, it is designed to improve business messages and transaction flow. FIX achieves this goal by minimizing redundancy and reducing time spent on telephone communications, written messages, transactions, and documentation. The benefits are particularly obvious to funds, investment managers, and investment banking firms. FIX systems transfer accurate and timely financial information concerning securities trades through and across security exchange houses.

  2. Open source (non-proprietary) and public domain (free) messaging standard for instant (real time) exchange of electronic data on securities transactions. Developed in a cooperative effort by large US and European asset management and brokerage firms, FIX promises faster-flow of financial information across national frontiers and shorter settlement periods. It uses its own version of XML (called FIXML) which is encapsulated within a standard FIX message for secure transmission.

  3. Financial Information eXchange (FIX) is a vendor-neutral electronic communications protocol for the international real-time exchange of securities transaction information. The protocol is used by the FIX community which includes nearly 300 member firms including all major investment banks. FIX has become the de-facto messaging standard for pre-trade, trade, and post-trade communication, as well as for U.S. regulatory reporting. It is compatible with almost every commonly used network technology. FIX Protocol, Ltd. owns and maintains the FIX system. The company was formed entirely to fulfill that purpose and to ensure the system remains in the public domain.

How to use Financial information exchange (FIX) in a sentence?

  1. The FIX Trading Community is the non-profit entity created to ensure FIX continues in the public domain.
  2. FIX is the standard for front-office messaging.
  3. Financial Information Exchange (FIX) is an information and data protocol.

Meaning of Financial information exchange (FIX) & Financial information exchange (FIX) Definition