The Financial Information eXchange Protocol
FIX allows you to do Futures, Forwards, Options, Fixed Income, Option pay offs and Fixed Income Desks.
The FIX engine is an application program that creates and parses FIX messages
The OMS allows trades to create orders, perform order settlement, order compliance, pre and post TCA, time analytics, etc.
FIX helps with Direct Market Access (DMA), Algorithm Trading, Single Stock Desks, Multi Stock Desks (MSD) and Portfolio Trading.
FIX tagvalue message format
Reference URL: wikipedia
Message fields are delimted using ASCII 01 <start of header> character. They are composed of a header, body and trailer.
A FIX message consists of Header + Body + Trailer + Checksum.
Header: Up to FIX 4.4, the header contains three fields: 8
BeginString
, 9BodyLength
and 35MsgType
tags.Body: The body of the message depends on the
MsgType
tag in the header.