Benefits of standardizing communications using FIX protocol –
Some of the benefits of the widespread use of a standard messaging protocol are
- Reduced cost and complexity of integrating various internal activities
- Increased ability to share infrastructure in terms of software, hardware and support staff
- Less need to rekeying and translate data, which lowers costs and results in fewer errors
- Easier monitoring of the overall positions of markets and flows within them (eg, for regulatory purposes) as the inputs are supplied in the same format and use of the same protocol
Sensiple launched PhiFIX, a suite of Multi-protocol (FIX, EMAPI, FAST, ITCH & OUCH) based messaging infrastructure to streamline electronic communications in the financial securities industry. It implements the automated trading of multi-assets, including securities, derivative, and other financial instruments.