FPL Leadership Meet To Set Future Strategy

8 August 2007

The FIX Protocol Ltd. (FPL) Global Steering Committee met at Credit Suisse’s Canary Wharf headquarters in London on Thursday, July 12th to develop its strategy to ensure that the organisation continues to respond effectively to global changes in market structure, regulation and technology. The meeting provided an opportunity for its elected leaders to represent the views of the industry and ensure that the FIX Protocol is continually developed, managed and promoted in an efficient manner for the global financial services community.

The strategy meeting was attended by leaders from the Americas, EMEA (Europe, Middle East, and Africa), Asia Pacific and Japanese regions, including the organisation’s Global Steering Committee Co-Chairs, Richard Balarkas, Managing Director, Head of Advanced Execution Services Sales, Credit Suisse and Scott Atwell, Manager of FIX Trading and Connectivity, American Century Investments. Additionally, there was representation from FPL’s product committees, which focus on meeting the evolving needs of the Derivatives, Fixed Income and Foreign Exchange asset classes, as well as the leadership of the Global Education and Marketing and Global Technical Committees. For a full list of members from the FPL Global Steering Committee please visit www.fixprotocol.org/fplgsc.

The key topics discussed during the session included, but were not limited to:
• gaining traction in and awareness of the adoption of FIX across the asset classes
• increasing the understanding of FIX usage across the globe
• helping the industry realise the benefits that all the work on the development of the protocol was intended to achieve.

Each of these and a number of other items were discussed and a clear action plan was put in place for each, which the organisation will follow throughout the remainder of 2007 and into 2008. In coming months, the FPL community can look forward to reaping the benefits of this meeting as the organisation starts to implement initial plans, which include:
• conducting an economic study highlighting the value of FIX adoption
• gathering FIX usage statistics and case studies to increase awareness of FIX utilisation
• raising the status of the FPL Exchanges and ECNs Working Group to that of a global FPL committee
• increasing technology-focused resources for FPL.

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