FIX Protocol Goes Algo
The new language will support algorithmic trading, reducing the deployment effort required to rollout new order types, say FPL officials. Broker-dealers will be able to specify algorithmic order types in an XML format, officials add.
FIXATDL will minimize the financial and technical resource investments required by firms to innovate and adopt new algorithmic order types. Sell-side firms will use an XML file to describe their algorithms, their parameters and the FIX tag mappings on how they should
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