FIX Trading Community
FIX Trading Community is the non-profit, industry-driven standards body at the heart of global trading.
The organization is independent and neutral, dedicated to addressing real business and regulatory issues impacting multi-asset trading in global markets through standardization, delivering operational efficiency, increased transparency, and reduced costs and risks for all market participants. Central to FIX Trading Community’s work is the continuous development and promotion of the FIX family of standards, including the core FIX Protocol messaging language, which has revolutionized the trading environment and has successfully become the way the world trades.
Jordan & Jordan was engaged by the FIX Trading Community to examine the structure of the FIX organization and recommend an alternative that would support and promote global growth of the FIX community and wider adoption of the protocol. Jordan & Jordan was then selected to staff and support the Global Program Office, and to provide leadership in driving the agenda of the FIX Trading Community forward. FIX membership has grown to more than 275 leading financial services companies, spanning 6 different continents. 33% of members are EMEA based, 30% across the Americas, and 27% in Asia Pacific and Japan.
The FIX Trading Community enjoys active participation of volunteers from its member buy-side firms, sell-side firms, global exchanges and numerous information and technology vendors. Through the leadership of its Member Firms and Jordan & Jordan’s executive program office staff, the FIX Trading Community is on the forefront in addressing issues of critical importance to electronic trading and the infrastructure needed to support changes in market structure and global regulatory initiatives.
Here are a few of the “Hot Topics” FIX members are focused on:
- Risk - As electronic trading products continue to evolve, the use of effective risk controls has become an increasingly essential element to maintain market integrity.
- Regulation - Standards are crucial to meet regulatory needs as they result in a consistent point of reference, quicker implementation times and more efficient processes.
- Performance – The organization has focused on how FIX® could be used to more effectively support the needs of trading venues and other environments where high speed trading is of the essence.
- Post-Trade - The industry is focused on using mutually agreed standards to deliver higher efficiencies, improved straight-through processing, and quicker issue identification, all of which can contribute to significant risk reductions and cost savings.
- Cross-Asset Trading - Market consolidation, regulatory changes, and portfolio diversification increases the need for a comprehensive view across the asset classes - Equities, Derivatives, Fixed Income and Foreign Exchange.
- Buy-side Needs - Focused working groups have been developed to provide a platform for buy-side representatives to discuss how their need for greater transparency can be efficiently met by the automated trading community.
For more information about the FIX Trading Community, current initiatives, or membership details, go to http://www.fixtradingcommunity.org/ or call Kathleen Callahan at 212 652 4469.