FIXdom

FIX is a universal language to standardise electronic communication between counterparts in the financial industry. Focus is on pre-trade, trade and post-trade across all asset classes. FIXdom not only seeks to increase the level of standardisation in the industry but also to harmonise the usage of standards for the benefit of users interacting with multiple counterparties. This requires to provide guidelines for specific asset classes and use cases on top of the normative specification. FIX is also adopted due to its flexibility which comes with a downside when there are diverse implementations for the same business requirements. This adds to the cost of the industry and a problem that can only be solved over time, i.e. whenever there is a change and people have a choice in terms of how much they want to follow a standard.