- New FIXML standard offers significantly better performance via reduced size and more robust validation of messages.
30th October 2003 - London - SolutionForge, provider of financial Straight-Through Processing (STP) solutions, today announced that its suite of products will provide full support for the very latest specification of the XML implementation of FIX, FIXML 4.4 Schema, released today in draft form by FIX Protocol Ltd (FPL).
SolutionForge has been directly involved in the development of FIXML 4.4 as a contributing member of FPLs FIXML 4.4 Schema working group. FIXML 4.4 re-works the FIXML standard to offer real advantages of reduced message size and improved validation of those messages. SolutionForge's flagship products, FIX.NET Server and FIX.NET Trader will include support for the new specification of FIXML across all versions of the FIX protocol currently in use.
Steve Wilkinson, CEO and founder of SolutionForge comments: As a FIX vendor we have been a strong proponent of FIXML within the FIX community. Whilst FIX between firms is ubiquitous, we have long argued for the use of FIXML inside the enterprise, providing the opportunity to leverage the broad XML support within off-the-shelf tools such as Microsofts .NET Framework and BizTalk Server.
SolutionForges FIX.NET Server FIX engine platform was one of the first to support in-line real-time conversion of FIX messages to and from FIXML, removing the need for firms to deal directly with FIX messages within their in-house systems. It was this capability, coupled with SolutionForges commitment to the Microsoft Windows platform that attracted the London Stock Exchange to use FIX.NET within its Retail Service Provider Gateway platform, one of the longest established wide-scale uses of FIXML. FIX.NET Servers support for FIXML 4.4 Schema will be released early in the New Year, once the protocol specification has been finalised.
SolutionForges sell-side order management system, FIX.NET Trader, will also be upgraded to take advantage of the new FIXML standard. Wilkinson explains the rationale: We used FIXML throughout the implementation of FIX.NET Trader to give our customers FIX protocol version independence and a future-proof growth path. We anticipate real gains from the new standard, both in terms of performance (due to reduced message size) and consolidation across the various versions of FIX.