# Directional Guidance Wanted

**URL:** <https://forum.fixtrading.org/t/directional-guidance-wanted/4488>\
**Category:** General Q&A\
**Tags:** general-qa, xid\_167577, imported\
**Created:** [December 19, 2006, 1:07pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488 "2006-12-19T13:07:17Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![asiflodhi\_x](https://avatars.discourse-cdn.com/v4/letter/a/ce73a5/32.png) [@asiflodhi\_x](https://forum.fixtrading.org/u/asiflodhi_x)\
**Post date:** [December 19, 2006, 1:07pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488/1 "2006-12-19T13:07:17Z")

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Imported from previous forum

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**Author:** ![asiflodhi\_x](https://avatars.discourse-cdn.com/v4/letter/a/ce73a5/32.png) [@asiflodhi\_x](https://forum.fixtrading.org/u/asiflodhi_x)\
**Post date:** [December 19, 2006, 1:07pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488/2 "2006-12-19T13:07:17Z")

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Hello All,

I have just started studying FIX, and stock exchanges/markets in general, to embark on a C++ based software development project.

I have good conceptual-level accounting knowledge but am completely zero as far as the stock markets are concerned - let alone the FIX protocol. Currently, I am updating myself from the online (free) resource.

Would you be kind enough to give me pointers (to free online resources) as to the direction I should take to acquire domain knowledge about stock markets and FIX?

In addition, I have read a bit about OMS. But what is OMS in the first place? What is its expanded form?

Thanks in advance,

–  
Best regards,

Asif

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**Author:** ![shalomreich\_x](https://avatars.discourse-cdn.com/v4/letter/s/ea5d25/32.png) [@shalomreich\_x](https://forum.fixtrading.org/u/shalomreich_x)\
**Post date:** [December 19, 2006, 2:03pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488/3 "2006-12-19T14:03:38Z")

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> In addition, I have read a bit about OMS. But what is OMS in the first  
> place? What is its expanded form?

OMS = Order Management System

Each firm usually has its own OMS. This would collect orders from clients and internal trader and decide (perhaps with manual input/override) where the order should be routed for execution.

I have seen OMSs that implement various trading rules and strategies as well (split an order into waves etc.)

FIX is one of the protocols that can be used to send orders and responses (executions, retections etc.) between OMSs.

Hope this helps

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**Author:** ![asiflodhi\_x](https://avatars.discourse-cdn.com/v4/letter/a/ce73a5/32.png) [@asiflodhi\_x](https://forum.fixtrading.org/u/asiflodhi_x)\
**Post date:** [December 19, 2006, 3:37pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488/4 "2006-12-19T15:37:46Z")

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Hi Shalom,

> FIX is one of the protocols that can be used to send orders and  
> responses (executions, retections etc.) between OMSs.  
> Hope this helps

Can you get market data as well using a FIX-based library? I am just asking this question in response to someone’s claim that FIX doesn’t provide you market data.

Many thanks in advance,

–  
Best regards,

Asif

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**Author:** ![jamesbywater\_x](https://avatars.discourse-cdn.com/v4/letter/j/85f322/32.png) [@jamesbywater\_x](https://forum.fixtrading.org/u/jamesbywater_x)\
**Post date:** [December 19, 2006, 3:44pm UTC](https://forum.fixtrading.org/t/directional-guidance-wanted/4488/5 "2006-12-19T15:44:24Z")

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> > FIX is one of the protocols that can be used to send orders and  
> > responses (executions, retections etc.) between OMSs. Hope this helps
> 
> Can you get market data as well using a FIX-based library? I am just  
> asking this question in response to someone’s claim that FIX doesn’t  
> provide you market data.

FIX supports market data as mentioned in my other message. You might also want to have a look at FAST protocol (FIX Adapted for STreaming).

Thanks,

James