What is the FIX protocol for financial institutions? [closed]

Question

What is the FIX protocol for financial institutions?

Middelburg

Answer 1

FIX protocol is a protocol for application communication between financial institutions. Mainly stock exchanges, brokers, market-makers, dealers.

http://en.wikipedia.org/wiki/FIX_protocol

Took 2 seconds to find using Wikipedia/Google.

You have a Java tag on this question so I think you might be looking for a FIX communication library in Java...http://www.quickfixj.org/

Eddy

Answer 2

The FIX protocol (Financial Information eXchange) is a series of messages for the electronic exchange of financial messages. Most large banks and investment banks use it to accept things like orders from external entities such as hedgefunds etc.

A FIX message is basically a tag/format string. Each tag is a number which cross-references to an entity. For example:

8=FIX.4.1

8 means FIX version.

There is an XML variation of the messages, called FixML, but last time I looked it wasn't extensively used.

Halfcocked

Thank you Sean, your and Aiden's answer help me a lot. Thanks again. – Middelburg

Answer 3

FIX Protocol is a :
free open source protocol used for electronic trading. tag value based protocol e.g. 8=FIX4.4 where tag 8 is Fix Version and FIX4.4 is value.
Supported by most of the broker for equities and fixed income trading.
base on TCP for transmitting FIX messages.
provides mechanism for recovery and replay.

Source:
http://fixprotocol.org/what-is-fix.shtml
http://javarevisited.blogspot.com/2011/04/fix-protocol-tutorial-for-beginners.html

Impletion