Speaking to The TRADE, FIX Trading Community’s executive director, Jim Kaye, confirmed that the industry as a whole has their attention firmly on more solid processes in the event of outages.
Addressing when communication is most important, Kaye asserted: “What we’re talking about here is more the ‘heat of battle’ type messaging, as opposed to postmortems. The idea being that these messages in theory could be fed directly into trading infrastructures, which in turn could react directly. We should be conceptualising the idea that, if you get a message from a venue about an outage, there is a plan b.”
