Firms Wade Into FIX for FX

FIX TECHNOLOGIES

LONDON—Despite the efforts of the FIX Protocol Ltd (FPL) to promote the use of FIX for foreign exchange (FX) trading, the use of FIX for FX is still limited among securities firms, according to various bank officials.

For instance, approximately 15 percent of sell-side firms are supporting FIX version 4.4 for FX trading, according to the TowerGroup's 2005 FIX Global Survey released late last year. Officials at the FPL say they expect this proportion to rise to 40 percent by 2008.

"RBS is using the

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