Financial Information Exchange - FIX

DEFINITION of 'Financial Information Exchange - FIX '

A financial information exchange (FIX) protocol system used by funds, investment managers and firms. FIX systems are used to transfer accurate and timely financial information regarding securities trades through and across security exchange houses, enabling users to make timely and accurate decisions. FIX has become a standard in equity trades.

Also written as "financial information eXchange".

BREAKING DOWN 'Financial Information Exchange - FIX '

The FIX protocol is also becoming a standard in options and futures exchanges as well. The language, which has undergone many transformations and updates, was first introduced in 1992 for equity trading between Salomon Brothers and Fidelity Investments.

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