Global Technical Committee - 2005 Goals

Improve the specification revision process
The GTC will review and seek to improve the FIX specification revision process. Areas to be examined include:

• Improve bug and enhancement request tracking
• Integration of above with a database
• Use of the FIX Repository

Support Extension / Service Packs for FIX 4.4
Enhance the specification development process to support “Extensions” or “Service Packs” for FIX 4.4 to capture and provide adoption of WG proposed enhancements prior to the release of a new version of the spec.
Candidates for this approach include:

• FIA Extensions 1.0, 1.1, and 1.2
• Foreign Exchange gap analysis
• Fixed Income gap analysis
• Chinese market requirements
• Regulatory-based: Reg-SHO, MiFID, etc.
• Market Data Optimization WG
• Algorithmic Trading WG
• Custom tags

FIXimate Enhancements
Publish an enhanced version of FIXimate. This will aim to improve upon the existing product with better integration of information relating to the FIXML Schema. Specific improvements will include:

• Generate (from the FIX Repository) all versions as “plain HTML” for cross-browser compatibility
• Include XPATH notation
• Show the changes between versions
• Desire to produce a PDA (Palm, Pocket PC, Blackberry) version

Foreign Exchange WG delivery
The F/X WG is currently documenting in “plain English” the business flows and requirements for foreign exchange. The group is also currently working with TWIST and other interested parties in the FX space. The GTC will assist in the production and review of technical “gap analysis” documentation that is based upon comparing the “plain English” requirements with the current capabilities defined in the FIX spec.

Establish Repository WG
Form a Repository WG to increase the awareness and use of the FIX Repository, and to extend its functionality, specification tools, and other utilities.

Establish Web Services WG
The broader technology industry has and continues to adopt XML for data representation and the use of web services within a Service Oriented Architecture (SOA) as a means of data delivery. The FIX Protocol’s FIXML Schema only addresses the data representation aspect. The FIX Web Services WG will study this space and make recommendations to the GTC as to the probable direction of this technology and how and if FPL should engage the wider industry and develop application notes concerning its use with FIX.

Data Security WG recommendation
The Data Security WG will publish its recommendations and an application note describing the implementation of authentication, encryption, etc in 2005.

Leverage the FIX Repository in the FIX Certification Program
FPL’s FIX Certification Program has delivered certification scripts for buy side and sell side fixed income trading in 2004. Examine how the FIX Repository can be leveraged to support the certification effort and make the appropriate enhancements to the FIX Repository to achieve this.