Re: FIX tutorials?
Srihari Adya / Siemens
4 Sep 2008 11:56AM ETMr. Rick,
I love algorithms, I 'always' try to find a different solution to an existing problem. In my academics, we have these algorithmic problems around and I always try to follow the Golden principles of Algorithms, 'complexity' 'efficiency'. I do have certain less complex and more efficient solutions to a few things and people have always appreciated that.
:)
FIX is something new to me, I am quick learner and I have made financial markets my life. dedicated. I am studying the theoretical and technicals of the Financial markets. Thanks to my brother who was in the technical side of Morgan Stanley I did an internship over there. Financial markets are like stars. Stars are fascinating. When we were children and looked up in the sky we pondered and said 'wow', fascinating :) Financial markets are the same to me, fascinating :)
I have dedicated my life towards it now.. will continue till death :)
Thank you Rick, your words are inspiring
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> > How can I thank you Rick? Thank you so very very much :)
>
> Srihari,
>
> Don't thank me. Thank the founders of FIX for having the foresight to
> put the following sentences into FIX's foundation trust indenture that
> are indeed brilliant:
>
> ***
>
> FIX Protocol is open and free, but is not software. Rather, FIX is a
> specification which software developers can create commercial or open-
> source software, as they see fit.
>
> Purposes ... to insure that the FIX Protocol remains without charge to
> any person (whether involved in the provision of financial services or
> member of the general public) and that it is managed by an open vendor-
> neutral process.
>
> ***
>
> My wish for you would be that you consider doing some of your academic
> work in well documented, open source code, and that others after you
> might benift from it. I'm not suggesting you give away any trading
> secrets or proprietary know how, just that you consider sharing the
> basics with everone. Prior to writing code, try to look at what others
> have done in open source or open standards, perhaps you are just
> duplicating others good work? That's fine if you are just learning,
> however if you can refactor other open source code to suit your own
> purposes, and keep it very well documented and up to date, perhaps
> others might benefit too? They might stand on your shoulders.
>
> Later on, if you continue in this career direction perhaps you will find
> time to donate to FIX to work on one of the numerous committees helping
> to support and refine the protocol. You don't have to be a paid member
> to participate. It's hard work however, because informed technical
> consensus does not come easy. It takes time and effort.
>
> How is it that something that's given away free is so valuable? It's
> because so many people contributed their time and best thinking to it,
> and insured that it was developed and maintained in a "vendor-neutral
> process". Then they gave it away for free.
>
> If the entire world's financial capital could move around to the very
> best opportunities with less friction, perhaps it might be possible earn
> 5 bp more per year in aggregate. Ask yourself if you think that might be
> feasible? Using good, clean, efficient trading standards, would 5 bp
> more return be a possibility?
>
> FIX goes into emerging markets absolutely for free. They get to start
> right off the bat at the highest level. No need to "accumulate know
> how" gradually over time, like accumulating roads, bridges, ports and
> transportation infrastructure - start right out with the very best
> stuff on day one, just as soon as they are ready for access to
> worldwide capital.
>
> Remember too what 5 bp more return on capital means for labor. You don't
> have a 5 bp bump up in aggregate return on capital without also having a
> corresponding bump up in the return to labor. Best of all labor probably
> didn't have to work any harder or become more productive - the capital
> was what picked up the pace.
>
> Bottom line, trading standards can provide a very nice boost to
> worldwide wealth. While that alone won't solve natural resource
> constraints, polution, health care, poverty, distribution inequity,
> political instability and other world wide problems, at least it
> increases wealth that can pay for some of those things.
>
> I'm convinced that wide adoption of FIX and continuous improvements to
> it could indeed yield that 5 bp. If you get a chance and would like to
> help out in that effort I think you too would find it intrinsically
> rewarding.
>
> Rick
