FIX OMS Order Routing

FIX usage in buy/sell-side OMS for order routing.

Definition

Typical FIX OMS routing: Charles River IMS, Bloomberg AIM, Fidessa LIO, Eze OMS, FlexTrade, Tradeware buy-side; ITG, Liquidnet, Instinet, ConvergEx sell-side; LSE, NYSE, NASDAQ, Cboe BZX, ITS, Aquis, Turquoise venues. FIX 4.2, 4.4 versions majority, 5.0 SP2 expanding. Latency-critical optimized via FAST/SBE.

Origin

FIX Protocol initially developed in 1992 by Fidelity Investments + Salomon Brothers, FIX Trading Community (org) maintains the standard, version 4.0 1996, 4.4 2003, 5.0 SP2 2011.

Usage

Backbone of all global equity trading and growing for FX, fixed income, derivatives. Critical for smart order routing (SOR) and algo trading.

Related terms

• FIX Protocol — fondation.
• FIX 4.4 — version majoritaire.
• FIX 5.0 SP2 — version moderne.