MESSAGE
| DATE | 2005-01-20 |
| FROM | From: "Steve Milo"
|
| SUBJECT | Subject: [hangout] FIX Protocol
|
I am reading the specs for this so-called protocol off of NYSE website.
The claim is that this 'protocol' is designed to coexist across various
types of networks (ie X.25, ATM, TCP/IP'). But further into the
documentation it states that this protocol is designed to work only with
TCP/IP. The purpose of this 'protocol' is to carry financial data, which is
obvious since the document is from NYSE. But from the looks of it FIX was
implemented because of the lack of technical talent in the financial
industry.
A lot of what FIX does seems to duplicate what TCP/IP does things like
'heartbeat'(TCP/IP's keep-alive'), messages (messages), message resends.
FIX seems to have been created to make up for top-heavy applications at user
sites and the lack of sound technical insight at the programmatic level.
I am very disappointed in Wall Street, I was expecting better technical
integrity from that sector. The more I read about FIX the more it is clear
that there are a lot of morons on Wall Street.
Steve M
--
Open WebMail Project (http://openwebmail.org)
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