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Global Derivatives Business Practices Subcommittee
Summary
The purpose of this subcommittee is to identify and document the prevailing business practices for use of the FIX Protocol in the derivatives space, at both the message and tag/field level. This group will produce a FIX Global Derivatives Best Practices Guide that will provide guidelines and examples of the industry's most generally accepted interpretation (or best industry-wide implementation) of the FIX specification.
The intended benefit to the industry is a mechanism to encourage standardization of derivatives usage of FIX across markets, thereby reducing time to implement FIX interfaces between trading partners. This will translate into lower cost of entry for trading partners with FIX electronic interfaces.
Scope
This Best Practices Guide will include 3 major areas of best practices:
- Session Handling and Operations: How best to handle the FIX session between to FIX engines, and the operational procedures supporting the FIX infrastructure;
- Market Data: How best to communicate in FIX the real-time updates of prices for products that are actively trading, as well as the associated reference data that describe those products;
- Order Routing: How best to communicate in FIX the bi-directional real-time routing of orders between two trading partners.
Parent committee
Subcommittees
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| Company | Name | Location | Phone |
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| Newedge Financial | | Chicago, Illinois, US | 312-762-1341 | | SunGard GMI / Octagon | | Chicago, IL, US | (+1) 312 577-6268 | | Trading Technologies | | Chicago, IL, US | |
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