Are there any gaps that need bridging?
For all its features, though, using FIX for post-trade processing still poses a number of challenges. It is not unusual to have the ‘free tags’used for purposes that are not yet implemented in the protocol – to an extent going against the spirit of the standardized approach of FIX. However, with an active community dedicated to the technical committees, such gaps are rapidly being bridged.
FIX is also taking a hold in the post-trade requirements of other markets, for example, in Asia an upcoming commodities exchange, chose FIX as the clearing communication protocol.
By using the FIX Protocol in our post-trade applications, we have moved our solutions from a rigid framework to a modular approach. FIX has also allowed us to focus on improving each module based more on our clients’ requirements than clearing houses’ specificities, therefore homogenizing the processing across markets and regions.
To summarize, FIX has enabled post-trade teams to provide more accurate and timely information to decision makers to the benefit of their institutions.
FIX: Streamlining post-trade solutions
