Getting started with Fix

It seems that some of us do not understand the Fix protocol. It doesn't matter. After reading this article, I believe every friend can master this agreement. So what is the specific purpose of this protocol? Financial Information exchange is a data communication standard applicable to Real-Time securities and Financial electronic trading development.

It is an open protocol organized by the International FIX Association to promote the electronic process of international trade among various participants, including investment managers and brokers, the buyer and the seller establish real-time electronic communication protocols. The purpose of the Fix protocol is to format various securities and financial business needs processes into functional processes described in one available computer language, and exchange the format in a unified manner on each business function interface, facilitate the connection of each function module.

Currently, major developed countries in Europe and the United States are members of the FIX Association.

Features of the FIX Protocol

(1) Simple

Easy to use. Various application systems can write their own applications based on the FIX Protocol rules. These applications can be applied to any transaction party that wants to automatically connect to each other and support various business functions.

(2) Open

The rules are open and transparent and can be expanded continuously. In order to give users the maximum flexibility, the FIX encourages users to customize the domain. These domains should be used within the scope of parties that have reached consensus, and should be used with caution to avoid conflicts that may easily arise when the parties implement the agreement. The FIX is managed and maintained by a non-profit FIX organization. The standardized format of the FIX protocol is published. When the seller is encouraged to join the standard, the FIX remains neutral.

(3) flexible

It is not restricted by carriers. It can be used by renting data applications, data transfer media, or on the Internet. It leaves the above options for the firm to make their own decisions. And does not rely on any specific communication protocols such as X. 25, asynchronous, TCP/IP, etc ).

(4) Security

In terms of security mechanisms, FIX does not provide specific security mechanisms. It is just an information exchange platform. However, it supports any encryption system permitted by both parties.

FIX communication protocol structure

Currently, the format of the FIX protocol has two structures: "Tag) >=< Value)" domain structure and fixml structure.