FIXML

FIX Protocol XML serialization for post-trade.

Definition

FIXML XSD schemas cover all FIX messages. Used by CME ClearPort, ICE Trade Capture, DTCC CTM (Central Trade Manager), MarkitWire. Advantage: integration with XML-based systems, ESB/iPaaS, XSD validation. Disadvantage: 5-10x verbosity vs FIX tag=value, so not used for low-latency.

Origin

FIX Trading Community, FIXML first version 2005, aligned with FIX 5.0 SP2 2011, Errata updates.

Usage

Post-trade clearing (CME, ICE, LCH), MiFID II RTS 22 ARM regulatory reporting, buy-side / sell-side allocation messaging.

Related terms

• FIX Protocol — fondation.
• FIX 5.0 SP2 — version compatible.
• FpML — standard XML jumeau OTC.