Boston, MA, April 8, 2004 - Brook Path Partners, Inc. has announced the launch of their FIX training course entitled FIX and the Trade Lifecycle. The course normally runs 2 days, and is designed to be presented in-house. It can be customized for managers, developers, sales and/or support people who work with systems that use the FIX protocol. These may include order management systems, trading platforms, order routing systems and other applications that either implement the FIX protocol directly or rely on a FIX interface to communicate information.
"The response we have received from people who have taken the course has been extremely positive," said Robert Stowsky, Brook Path Partnersâ President and CEO. "Both people who are being exposed to FIX for the first time and those who have used the protocol for years have found this course to be beneficial in its ability to map the protocol to their specific business situation."
FIX and the Trade Lifecycle begins with an overview of how securities markets work with a discussion of who the participants are and what they trade. The trade lifecycle is reviewed beginning with research and price discovery, and then moves on to order management and execution and concludes with clearing and settlement. Coverage of other elements of securities processing such as new issues, corporate actions and securities lending is also included.
The FIX protocol is then introduced in the context of where it can be used in the trade lifecycle. Each message category is explained along with requirements for specific asset classes. Technical differences between the 4.2 and 4.4 specifications are highlighted as is standard industry practice for implementing the protocol. A brief introduction to the FIX 4.4 Schema and its use is also provided. The course can be customized to address issues that are particular to the clientâs environment.