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Standardised FIX guidelines to improve post-trade processing

The FIX Trading Community, a non-profit standards body for financial trading, has released guidelines for the use of the open standard for trade communications (FIX) in post-trade processing for multi-asset classes, as well as a common post-trade framework. The guidelines cover futures, equity swaps and FX equity options.

FIX, which stands for Financial Information eXchange, is a non-proprietary, free and open standard used by thousands of firms every day to communicate trade information and complete millions of transactions.

Increased post-trade efficiency

The guidelines were developed by the FIX Global Post-Trade Working Group, which is tasked with improving post-trade workflow, particularly by addressing trade breaks and slow resolution times. The standardised guidelines for the different asset classes mentioned above means that the trades can be processed by one or more third parties and/or intermediaries with the same protocol.

Lower risk, greater flexibility

The working group said in a statement: “With these guidelines, market participants will be able to reduce risk and have the ability to leverage off their current FIX infrastructure in place for trading and, by doing so, minimise implementation time and costs.”

It also claims that the buy-side post-trade processing will benefit from lower implementation and maintenance costs, improved ease of use, greater flexibility and, ultimately, lower risk.

This item appears in the following sections:
FX Management & Crypto
Buying & Selling FX
Risk Management
FX Hedging & Risk Management
% Rate Hedging & Risk Management

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