Financial Information ExchangeAbbreviated as FIX, a vendor-neutral standardized message format protocol for describing real-time security transactions. FIX is a public-domain specification owned and maintained by FIX Protocol, Ltd. The protocol supports the following electronic conversations between brokers and other financial institutions:
- Equity order submissions, cancellations and replacements
- Equity execution reporting
- Equity order statusing
- Equity trade allocation
- Indication of interest communication
- Completed trade advertisements
- Directed e-mail and news messaging
FIX is similar to OFX in that the two protocols are used to communicate financial information. However, OFX is focused more on retail transactions and is a query-response protocol much like HTTP while FIX is focused on institutional business and is a connected session-based protocol.
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