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Steps toward interoperability evidenced in securities industry's rewrite of pioneering FIX protocol using XML
FIXML is the XML-enabled version of the Financial Information eXchange (FIX) protocol. FIX is a standard for real-time electronic exchange of securities transactions that was developed in 1992 by Fidelity Investments and Soloman Brothers. The use of the Extensible Markup Language (XML) is critical to the future success of FIX as member firms deal with competing demands for new functionality, products and geographic support. "Before XML protocols, it was too difficult to create a universal pipeline for data interchange," said Bill Cary, Innovision president and CEO. "FIXML changes all that and delivers a new opportunity for true interoperability. It enables the development of cost-effective, Internet-based applications that leverage current systems. In addition, it simplifies translation to other standards such as S.W.I.F.T." Innovision's FIXML PSOM is a protocol specific object model that simplifies the complex FIXML DTD and schema. The new financial application contains standard interfaces for developers to input/output FIXML. This shields them entirely from the underlying parsing/processing engines and enables them to achieve 100 percent compliance with the specification. Innovision engineers serve on the FIX Protocol Organization's XML Standards Working Group. They designed and validated the formal FIXML specification, which was officially released last month, using the same Innovision XML Protocol (XP) technology used to create the FIXML PSOM. "The Innovision FIXML PSOM takes a huge step towards interoperability," Cary said. "It elegantly addresses the needs of the FIX community to quickly and easily adapt their existing engines to FIXML." AVAILABILITY FIX member firms and other qualified institutions may evaluate this product at no cost. Interested parties should send their requests for product information to info@innovision.com or visit www.innovision.com. ABOUT FIX The Financial Information eXchange (FIX) protocol is a messaging standard developed specifically for the real-time electronic exchange of securities transactions. The public-domain specification is owned and maintained by the FIX Technical Committee, which receives its direction from international Steering Committees as well as focused Working Groups made up of industry participants from leading brokerage firms. While FIXML is the first industry standard to leverage XML, other industries have announced plans to extend existing protocols or create new ones based on XML. The FIX Protocol Web site is located at www.fixprotocol.org. ABOUT INNOVISION Innovision Corporation develops software solutions that leverage industry-defined data interchange standards allowing corporations to reduce technology costs and expand market reach. In addition to being instrumental in the formal definition of the FIXML protocol, Innovision developed the financial services industry's first and most widely used OFX server. Innovision offers the FIXML PSOM to firms wanting to move from FIX to FIXML. For securities firms not currently using FIX, Innovision will be offering a cost-effective server solution that makes it easy for firms to deploy FIXML - and other XML Protocols - in financial environments. Innovision technologies work with existing Web, database and middleware products. They are in use at leading financial services companies. For more information about Innovision or its products, please call (913) 226-8700 or send e-mail to info@innovision.com. The Innovision Web site is located at www.innovision.com. For more information contact: |
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