FIXdom – The Wisdom of FIX
FIXdom was founded in 2019 and offers highly specialised consulting services related to the standardisation and harmonisation of electronic interfaces in the financial industry using different protocols and data standards. FIXdom is primarily focussed on the Financial Information eXchange (FIX) Protocol and the FIX Technical Standards for encodings and session layer protocols. FIX is using a number of ISO standards for its data elements. With ISO 20022, ISO also offers a complete business model for the financial industry. FIXdom is a regular member of the FIX Trading Community.
„FIX has become a global language for financial markets around the globe…“
The FIX Protocol was created more than two decades ago by Fidelity and Salomon Smith Barney to reduce the rate of errors made when communicating over the phone or by fax, requiring to manually enter the content into an application. FIX has become a global language for financial markets around the globe and currently offers more than 160 different message types and almost 6,000 fields for a wide range of asset classes. FIXdom wants to harmonise the usage of FIX as different interpretations of the standard has led to different implementations of it. Additional complexity comes from the fact that not everybody is using FIX Latest due to the lack of a business case to transition to a higher version of FIX. However, the burden of regulatory requirements has steadily increased in recent years, requiring users to enhance their legacy versions one way or another. FIXdom would like to support an incremental migration of the FIX Trading Community to a common interpretation of the FIX Protocol standard to reduce the effort of the community to deal with the many flavours of FIX that currently exist.