The Financial Information eXchange Protocol ( a "FIX Protocol" ) is a series of messaging specifications for the electronic communication of both trade-related and quote-stream related electronic trading messages between a market-access venue and a trading-desk operator ( be it a human or an algorithmic-trading engine ).
What is FIX?
The Financial Information eXchange Protocol ( abbrev. as a "FIX Protocol" ) is a series of messaging protocol specifications for the electronic communication of trade-related messages to provide a common, global language for the automated trading of financial instruments.
A typical FIX Protocol compliant message is an ASCII string, consisting of number tags, associated with their values and looks like:
tagNumber1=tagValue1|tagNumber2=tagValue2|tagNumber3=tagValue3
and so on, where a character | is a tag-record delimiter.
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