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What is the FIX protocol for financial institutions?
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How does FIX work? Clients and brokers use software called FIX engines to connect using the FIX protocol. In order to begin a FIX session, Client A and Broker B connect their engines at a predetermined start time using a predetermined host and comp ID.
The Financial Information eXchange (FIX) is a vendor-neutral electronic communications protocol for the international real-time exchange of securities transaction information.
Financial Information eXchange (FIX®) Protocol FIX has become the language of the global financial markets used extensively by buy and sell-side firms, trading platforms and even regulators to communicate trade information.
FIX-over-TLS (FIXS) is the standard to secure FIX sessions using the Transport Layer Security (TLS) protocol. The use of FIXS is considered a requirement as it introduces a basic level of security and standard options for interoperability.
FIX protocol is a protocol for application communication between financial institutions. Mainly stock exchanges, brokers, market-makers, dealers.
http://en.wikipedia.org/wiki/FIX_protocol
Took 2 seconds to find using Wikipedia/Google.
You have a Java tag on this question so I think you might be looking for a FIX communication library in Java...http://www.quickfixj.org/
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The FIX protocol (Financial Information eXchange) is a series of messages for the electronic exchange of financial messages. Most large banks and investment banks use it to accept things like orders from external entities such as hedgefunds etc.
A FIX message is basically a tag/format string. Each tag is a number which cross-references to an entity. For example:
8=FIX.4.1
8 means FIX version.
There is an XML variation of the messages, called FixML, but last time I looked it wasn't extensively used.
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