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    Ecommerce 1 min read
    Abbreviated 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.