Orchestra Concepts Part 1: Message Structures An Orchestra file contains message definitions and their building blocks, one of the aspects of rules of engagement between counterparties. Overview Orchestra is not a communication protocol in the ususal sense, nor is it an intermediary for messages on the wire. Rather, it describes message structures and behaviors of...
Author: FIXTrading Community (FIXTrading Community)
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Orchestra-FAQ
Use Cases How should you manage multiple rules of engagement using Orchestra? Q. For instance, how do you use Orchestra to represent multiple order routing destinations? An order routing hub is responsible for translating incoming messages into the FIX format accepted by each destination broker or market. A. To simplifiy the problem, each Orchestra file...
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FIX Trading Community expands its presence into Post-Trade Processing
Responding to industry calls for further standardisation London, New York, Hong Kong, July 24th 2019: FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced the launch of a new set of message types to further support periodic future payment management in the post-trade space. The process for...
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ESMA Consults on Market Data, Consolidated Tape
The European Securities and Markets Authority has launched a consultation on the cost of market data and the launch of a consolidated tape for the region which the buy side said is necessary to plan executions with confidence. The FIX Trading Community London regional meeting discussed the possible production of a consolidated tape on July...
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Planning for the unknown
Irina Sonich-Bright* discusses the diversity of the FIX Trading Community and how it addresses the yet undefinable Brexit outcome. The FIX Trading Community is wonderfully diverse. Its members consisting of buyside, sellside, vendors, exchanges and market operators, working closely with other industry associations such as AFME, BVI, EDMA, IA and ICMA, covering mostly technical issues,...
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FIXing China –
FIXing China Chinese market structure is completely unique, making it difficult for global trading firms to compete in China, and for domestic firms to offer their services on the global stage. FIX Trading Community’s China Working Group has been quietly working away with the key players in China to look at the issues and opportunities as...
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Quick-Start-Tutorial
How to Access an Orchestra File An Orchestra file contains message definitions and workflows. When you receive an Orchestra file from a trading counterparty, how do you access it programmatically to discover its elements? An Orchestra file is encoded in XML and must conform to the schema published in GitHub project FIXTradingCommunity/fix-orchestra. There are actually...
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FIX Implores Open Innovation, But Hedges on AI
23 April 2019 Courtney McGuinn, FIX Trading Community Operations Director The topics du jour were certainly different at this year’s FIX Trading Community Americas Trading Briefing. Yet two topics — optimized trade execution and streamlined post-trade processing — proved that the more things change, the more they stay the same. Last spring’s event was buoyed...
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Viewpoint: EMEA FIX Trading Conference
17 April 2019 BUYSIDE AMBITION. Neena Dholani, Global Marketing Programme Director of the FIX Trading Community summarises the political, data, regulation and technology issues that topped the agenda at this year’s EMEA FIX Trading Conference in London. The consequences of the UK’s decision to leave the European Union dominated discussions at the 2019 EMEA FIX...
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The State of Play: Post-MIFID and Pre-Brexit
State of Play: Post-MiFID and Pre-Brexit What we learnt from FIX EMEA 2019 Click here to access the full report One year on from the start of MiFID II and ahead of a possible no-deal Brexit, the key issue for industry participants and regulators alike remains ensuring access to accurate data to establish where and how...