FIX Protocol

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The Financial Information eXchange ("FIX") Protocol is an electronic "language" or set of message specifications for communicating electronic trade-related messages. It was developed through a collaboration among banks, broker-dealers, exchanges, industry utilities and associations, institutional investors, and information technology providers around the world as a common, global language for trading financial instruments electronically.

Financial trading firms use the FIX protocol to conduct fast, transparent and cost-efficient transactions. FIX is open and free. It is not software, but software developers can create commercial or open-source software around its specifications. As a leading trade-communications protocol, FIX is integral to many order management and trading systems.