"With the increasing adoption of the FIX protocol within the financial industry, it became apparent to us that there was no reference point for firms beginning the FIX implementation process to turn to beyond the FIX specification itself, especially in the fixed income space," commented Daniel Doscas of Lehman Brothers, Chairman of the Global Fixed Income Committee and member of the FPL Global Steering Committee.
This was the brainchild of the FPLâs Global Fixed Income Committee who played a key role in the development of the guide. "What sets this apart from other available resources is the process by which the guide was developed," added Doscas. A collaborative effort of over 25 firms, the guide covers implementation from a variety of disciplines including trading, technology, and testing, among others. Contributing authors included experts from buyside institutions, brokerage firms, exchanges, and vendors. In addition to covering FIX implementation generally, the guide was formulated to address the needs of the fixed income community.
"This guide could not have been completed without the tireless efforts of Natasha Bonner-Fomes of SimCorp, executive in charge of the Guide. On behalf of the committee, Iâd like to extend a special thanks to Natasha for her ideas, her excellent job coordinating with contributors and her editing expertise," added Mr. Doscas. "Iâd also like to thank our contributing authors as well as Cate Long of Multiple-Markets.com, Brian Gay of TransactTools, Jennifer Plaia of NYFIX and Jim Rucker of Market Axess for their hard work on this project."
The industry has learned a tremendous amount using the Protocol to trade equities. "In the guide, this knowledge is leveraged to help fixed income users benefit from the efficiencies inherent in using FIX," commented Peter Randall, Executive Director, FIX Protocol Ltd. "As an organization, we are dedicated to furthering the protocol for all asset classes and this document represents an important step in that direction." In addition to the Global Fixed Income Committeeâs monthly newsletter, newsFIX, there are plans to initiate the development of further documents as FIX adoption accelerates and new ideas for implementation are generated.
Mrs. Natasha Bonner-Fomes at: + 44 207 651 8800 (FPL Fixed Income Committee Member)
Mr. Daniel Doscas at: +1 (212) 526 0747 (FPL Fixed Income Committee Chair)
Mr. Tom Jordan at: +1 (212) 652 4469 (FPL Program Office)
Miss Jennifer Plaia at: +1 (203)425 8000 (FPL Fixed Income Committee Member)