Imported from previous forum
FIX Protocol Ltd. is commencing an initiative to encourage increased standardisation within OTC energy trading in response to regulatory demands. Growing regulatory pressures have led to the need to automate workflows for new operation functionality, fiduciary responsibilities and reporting requirements for energy trading. The OTC energy initiative will aim to support this evolution by developing recommended best practices for the trading of energy products using the FIX messaging language within the pre-trade and trade environment. Additionally, the group will review the functionality currently offered by the protocol compared to emerging needs and where necessary include enhancements to ensure it can comprehensively meet all business requirements as effectively as possible.
The FIX Protocol has become the way the world trades. It has achieved mass adoption for front-office equities trading, and its use is now steadily expanding across the foreign exchange, derivatives and fixed-income markets. FIX offers market participants significant cost savings and operational efficiency for real-time processing, connecting firms to trading partners in a standardised and cost‐effective manner. The use of FIX within this environment will also support the desire to achieve a stronger overview of positions across all assets.
The OTC Energy Subcommittee welcomes participation from all FPL Member firms. Representatives from non-member firms wishing to learn more about how they could get involved are also invited to join the group for the initial 3 months. If you would be interested in participating to please contact the FPL Program Office (fpl@fixprotocol.org) for further information. Details for the initial meeting will be circulated to interested parties once confirmed.
Regards,
FPL Program Office