MESSAGE
| DATE | 2005-01-20 |
| FROM | swd
|
| SUBJECT | RE: [hangout] FIX Protocol
|
FIX is a standard XML protocol to replace the NYSE exclusive FCS (Floor
Communication System) protocol. At SIAC we test FIX all the time as the
non-NYSE exchanges need a common, standard to exchange data between each
other. This demand for FIX is caused by the other exchanges taking more and
more trading business from the NYSE.
Do a search on FCS on the NYSE site. Look at the second item in the list
(unless you also want to read about Fairchild Semiconductor Corporation):
http://www.nyse.com/pdfs/2fix&fcs1211.pdf
(This document is written by SIAC.)
Serge D
P.S. Keep doing research so that you can talk intellegently at an interview
(and include on a resume) about the financial trading systems at the NYSE
compared to how things work at NASDAQ, for example. Also, watch for big
changes as to how the NYSE conducts its trading.
-----Original Message-----
From: owner-hangouts-at-mrbrklyn.com [mailto:owner-hangouts-at-mrbrklyn.com]On
Behalf Of Steve Milo
Sent: Thursday, January 20, 2005 8:15 PM
To: hangout-at-nylxs.com
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)
____________________________
NYLXS: New Yorker Free Software Users Scene
Fair Use -
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NYLXS is a trademark of NYLXS, Inc
____________________________
NYLXS: New Yorker Free Software Users Scene
Fair Use -
because it's either fair use or useless....
NYLXS is a trademark of NYLXS, Inc
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