Deutsche Brse Systems, technology subsidiary of Deutsche Brse Group, and OMX announced Wednesday they are joining forces to define a “Harmonized Exchange Standard” to use the Financial Information eXchange (FIX) Protocol.
FIX is a technical specification for order and trade management messages. Deutsche Brse Systems uses the FIX protocol with its proprietary interface to create access to trading platforms and information services. OMX is considering FIX for their existing and future trading and information dissemination systems.
Both exchanges recognize the considerable benefits for market participants through provision of an exchange compliant FIX interface, and invite other exchanges and market participants to contribute. Proprietary exchange interfaces will continue to play an important role, but FIX has the potential of becoming a common standard across exchanges. Discussions are currently underway to enable the jointly defined exchange FIX standard to be aligned with FIX Protocol Ltd.
Deutsche Brse Systems and OMX today also announce a technology partnership where the parties will connect their global communication networks in order to increase efficiency for both groups and market participants.