FIX-PROTOCOL

The de facto standard for electronic trading — quotes, orders, executions.

Definition

FIX 5.0 SP2 uses tag=value text-based encoding (FIX 4.x) or FIXML XML (FIX 5.x). Covers pre-trade (35=R for Quote Request), trade (35=D for New Order Single), post-trade (35=8 for Execution Report). Modern binary encodings: Simple Binary Encoding (SBE).

Origin

Created by Fidelity and Salomon Brothers in 1992. Maintained by the FIX Trading Community (450+ members).

Example in context

8=FIX.4.4|9=178|35=D|49=BROKER|56=EXCHANGE|... New Order Single for a Limit BUY 1000 IBM @ $145.50.

Related terms

• FIXatdl — extension for algorithmic parameters.