The FIX Protocol Ltd. (FPL) has formed an Algorithmic Trading Working Group that will focus on direct market access and algorithmic trading. "The opportunity exists to ensure that the various interface requirements from buy-side systems to the algorithmic trading engine are properly covered by the FIX protocol," according to a statement. The creation of the group is in response to the growth in the number of services offered by brokers to the buy side, officials say

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