Customizing FIX for Indian markets / exchanges

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Imported from previous forum

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Is there any plan of developing an “Indian FIX” something along lines of FIX4.1J Japanese FIX extension, if so are there any documents which list the unique trading practices as applicable to Indian markets? I would also like to look at the pros and cons of extensions versus merge everything into a single Mega-FIX leading to Electronic Trading practices and cultures spreading Globally and being adopted seamlessly :slight_smile:

regards,
K. Mahesh
+1-203-252-4039

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[ original email was from Ameya Nisal - ameyanisal@gmail.com ]
> Is there any plan of developing an “Indian FIX” something along lines

of FIX4.1J Japanese FIX extension, if so are there any documents
which list the unique trading practices as applicable to Indian
markets? I would also like to look at the pros and cons of extensions
versus merge everything into a single Mega-FIX leading to Electronic
Trading practices and cultures spreading Globally and being adopted
seamlessly :slight_smile:

regards,
K. Mahesh +1-203-252-4039

Mahesh,

Thank you for this posting.I am regular visitor of FIX and keep a track for the same.We are consulting firm in India looking forward for implementation of FIX products.
Please keep me updated in you get any update on customization of FIX for Indian markets.

Regards,

Ameya Nisal
+91-982-353-7198

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Ameya,

Fix is already being used for trading in Indian markets by some of the member brokers for both NSE & BSE. There are firms who have designed customised FIX based trading solutions for the Indian markets for both Equities & Derivatives. At present its limited to trading but theres always a scope for developing a product which can cater to pre-trade & post-trade solutions. We hope to find something soon on this. I will be glad to know if there are any products already developed for this.

Regards,
Sunil

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Ameya,

Fix is already being used for trading in Indian markets by some of the
member brokers for both NSE & BSE. There are firms who have designed
customised FIX based trading solutions for the Indian markets for both
Equities & Derivatives. At present its limited to trading but theres
always a scope for developing a product which can cater to pre-trade &
post-trade solutions. We hope to find something soon on this. I will be
glad to know if there are any products already developed for this.

Regards, Sunil

Hi Sunil

Are you saying that BSE and NSE supports the FIX, if so do you know what version FIX they support?

Thanks
-Nilesh

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Nilesh,

What I meant was that the member brokers have got their fix system approved and installed at their end which in turn is connected to the exchange API. There is no direct fix interface between the exchange and the brokers. The brokers are supporting fix version 4.2 as far as I know.

Regards
Sunil SIngh