FIX Group Shows Draft RFP For FIP-NET; Routing Network May Squeeze Merrin, TFS
AUTOMATED TRADING
Acting in its capacity as a member of the Financial Information Exchange consortium, CS First Boston Corp. has made public a draft request for proposal for the development and operation of a new FIX-compliant trade-routing mechanism. Provisionally dubbed the Financial Information Private Network or FIP-NET, the new service will be a TCP/IP-based private Internet network and will carry FIX protocol-compliant trade messages between buy- and sell-side firms. The new service--backed as it is by the
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