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 The FIX protocol is the dominant standard today in communicating equity order/execution details between institutional fund managers, brokers, exchanges and alternative trading venues. The popularity of FIX is spreading to other instruments with FIX usage already entrenched in Fixed Income communication.
In theory, the FIX protocol is the answer to the problems of communicating with multiple liquidity providers. In practice however, the FIX protocol presents many problems of its own. FIX is weak from a protocol design point of view. The specification is ambiguous, and few implementations are perfect where the specification is unambiguous. When two firms wish to communicate via FIX, an extensive cycle of testing and adapting to each other’s interpretation begins. In the end, few active FIX channels work alike. Furthermore, commercial FIX engines provide little built-in support for sound production practices.
QxLink provides the missing pieces to this puzzle: a rich set of tools for customizing each link, integrated audit trails and change management, log analysis, real-time monitoring and managements, report generation, etc. QxLink is not a FIX engine. Instead, it functions as an application server for any FIX engines. We feel that the open source QuickFIX engine is a strong alternative to commercial FIX engines and can, when combine with QxLink, provide a robust production FIX implementation that will, in most cases, surpass any competing commercial product(s). |
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| Have you or a colleague dealt with the multitude of frustrations associated with getting a new FIX connection setup? This usually involves, testing with the counterparty, running across some incompatibility, getting back to your developers and then waiting several days for the FIX, hoping the FIX is accurate, testing again, running into some new incompatibility, … |
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| The FIXMonitor provides a window into your FIX infrastructure, providing functionality far beyond that implied by “Monitor”. It will non-intrusively monitor your FIX infrastructure and give you a real-time display of all FIX messages while simultaneously … |
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