# Fix protocol doubts... **URL:** \ **Category:** General Q&A\ **Tags:** general-qa, xid\_165729, imported\ **Created:** [June 29, 2005, 8:10pm UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830 "2005-06-29T20:10:13Z")\ **Posts on this page:** 5\ **Page:** 1
**Author:** ![rahulsaxena52\_x](https://avatars.discourse-cdn.com/v4/letter/r/9de053/32.png) [@rahulsaxena52\_x](https://forum.fixtrading.org/u/rahulsaxena52_x)\ **Post date:** [June 29, 2005, 8:10pm UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830/1 "2005-06-29T20:10:13Z")
Imported from previous forum ---
**Author:** ![rahulsaxena52\_x](https://avatars.discourse-cdn.com/v4/letter/r/9de053/32.png) [@rahulsaxena52\_x](https://forum.fixtrading.org/u/rahulsaxena52_x)\ **Post date:** [June 29, 2005, 8:10pm UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830/2 "2005-06-29T20:10:13Z")
1. When we refer to FIX as a protocol, and also we mention that its not s/w, are we actually referring to a dedicated infrastructure that one has to follow when implementing a trade station? The infrasctruce may include routers,servers,couple of workstations. Does FIX define a particular architecture of connection?? 2. When sending transaction data or order update data, does FIX also strictly define a fixed string format stream, delimited either by spaces, or padding?If this is the case then all the major exchanges including CME,ECBOT,EUREX and s/w front end trading companies such as e-speed,Trade-Web would broadcast in the same format?? Is this true?? 3. Does FIX also relate to following a particular mechanism when dealing with order updates. eg. when a order at an exchange gets filled, should we always expect to see the individual counter-party fills that made up the whole fill(say filled qty was 50 but was done by 5 counteparties each supplying 10), and finally sending a book update message reflecting the new cumulative volume?? 4. Would you be able to supply me some kind of macro level diagram explaining the mechanism of what FIX protocol is all about? ---
**Author:** ![scott.atwell](https://avatars.discourse-cdn.com/v4/letter/s/51bf81/32.png) [@scott.atwell](https://forum.fixtrading.org/u/scott.atwell)\ **Post date:** [June 29, 2005, 8:25pm UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830/3 "2005-06-29T20:25:58Z")
The FIX Protocol itself is a specification of what and how to communicate. It’s a document and is not a piece of software, nor a network or service provider. FIX does not involve a fixed string format, rather has two syntaxes: Tag=Value (and delimiter) and FIXML (XML Schema). I suggest that you review resources from the following: [http://www.fixprotocol.org/implementation-guide](http://www.fixprotocol.org/implementation-guide) [http://www.fixprotocol.org/specifications/TechDoc-Beginner](http://www.fixprotocol.org/specifications/TechDoc-Beginner) [http://www.fixprotocol.org/specifications/](http://www.fixprotocol.org/specifications/) > 1. When we refer to FIX as a protocol, and also we mention that its not > s/w, are we actually referring to a dedicated infrastructure that one > has to follow when implementing a trade station? The infrasctruce may > include routers,servers,couple of workstations. Does FIX define a > particular architecture of connection?? > > 2. When sending transaction data or order update data, does FIX also > strictly define a fixed string format stream, delimited either by > spaces, or padding?If this is the case then all the major exchanges > including CME,ECBOT,EUREX and s/w front end trading companies such as > e-speed,Trade-Web would broadcast in the same format?? Is this true?? > > 3. Does FIX also relate to following a particular mechanism when dealing > with order updates. eg. when a order at an exchange gets filled, > should we always expect to see the individual counter-party fills > that made up the whole fill(say filled qty was 50 but was done by 5 > counteparties each supplying 10), and finally sending a book update > message reflecting the new cumulative volume?? > > 4. Would you be able to supply me some kind of macro level diagram > explaining the mechanism of what FIX protocol is all about? ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [July 25, 2005, 6:27pm UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830/4 "2005-07-25T18:27:23Z")
[original email was from Orlando Gordon - [junk@gordonvideo.com](mailto:junk@gordonvideo.com) ] Scott Atwell has given you some pretty good starting points. You have to consider the FIX protocol to be the grammar that is associated with a language. In this case it’s the language of trading. The core of what FIX is all about is for example knowing how to send an order to buy 100 shares of IBM at market price: [8=FIX.4.2 9=0164 35=D 34=20 49=UBank 56=TheyBank 52=20050329-18:12:47 50=589634 55=IBM 1=PRA 21=3 100=A 60=20050329-18:12:48 15=USD 110=0 11=48025 63=0 59=0 54=1 47=A 40=1 38=100 10=087] And knowing that one of the acceptable responses might be a simple acknowledgement saying I’ve gotten your order and am processing it: [8=FIX.4.2 9=0250 35=8 34=20 49=TheyBank 56=UBank 52=20050329-18:12:49 57=589634 1=PRA 6=0 11=48025 14=0 15=USD 17=47569003231 20=0 21=1 31=0 32=0 37=02075M8B 38=100 39=0 40=1 47=A 54=1 55=IBM 58=ROUTED 59=0 60=20050329-18:12:48 63=0 150=0 151=100 198=DMO\*24 207=A 10=242] Without a standard protocol, nobody would be able to understand anybody else’s orders, without the common language…the protocol. I’m currently in the process of putting together some documentation that you may find useful. Let me know if you would like a copy and I’ll send you a copy or a link depending on what publishing rules I will be subject to. > 1. When we refer to FIX as a protocol, and also we mention that its not > s/w, are we actually referring to a dedicated infrastructure that one > has to follow when implementing a trade station? The infrasctruce may > include routers,servers,couple of workstations. Does FIX define a > particular architecture of connection?? > > 2. When sending transaction data or order update data, does FIX also > strictly define a fixed string format stream, delimited either by > spaces, or padding?If this is the case then all the major exchanges > including CME,ECBOT,EUREX and s/w front end trading companies such as > e-speed,Trade-Web would broadcast in the same format?? Is this true?? > > 3. Does FIX also relate to following a particular mechanism when dealing > with order updates. eg. when a order at an exchange gets filled, > should we always expect to see the individual counter-party fills > that made up the whole fill(say filled qty was 50 but was done by 5 > counteparties each supplying 10), and finally sending a book update > message reflecting the new cumulative volume?? > > 4. Would you be able to supply me some kind of macro level diagram > explaining the mechanism of what FIX protocol is all about? ---
**Author:** ![fplpo\_x](https://avatars.discourse-cdn.com/v4/letter/f/7ab992/32.png) [@fplpo\_x](https://forum.fixtrading.org/u/fplpo_x)\ **Post date:** [October 10, 2006, 11:16am UTC](https://forum.fixtrading.org/t/fix-protocol-doubts/1830/5 "2006-10-10T11:16:32Z")
[original email was from Parthosarathi Karmokar - [partho.karmokar@gmail.com](mailto:partho.karmokar@gmail.com) ] hi orlando , could you please mail me the documents too > Scott Atwell has given you some pretty good starting points. You have to > consider the FIX protocol to be the grammar that is associated with a > language. In this case it’s the language of trading. > > The core of what FIX is all about is for example knowing how to send an > order to buy 100 shares of IBM at market price: > > [8=FIX.4.2 9=0164 35=D 34=20 49=UBank 56=TheyBank 52=20050329-18:12:47 > 50=589634 55=IBM 1=PRA 21=3 100=A 60=20050329-18:12:48 15=USD 110=0 > 11=48025 63=0 59=0 54=1 47=A 40=1 38=100 10=087 ] > > And knowing that one of the acceptable responses might be a simple > acknowledgement saying I’ve gotten your order and am processing it: > > [8=FIX.4.2 9=0250 35=8 34=20 49=TheyBank 56=UBank 52=20050329-18:12:49 > 57=589634 1=PRA 6=0 11=48025 14=0 15=USD 17=47569003231 20=0 21=1 31=0 > 32=0 37=02075M8B 38=100 39=0 40=1 47=A 54=1 55=IBM 58=ROUTED 59=0 60=20050329- > 18:12:48 63=0 150=0 151=100 198=DMO\*24 207=A 10=242 ] > > Without a standard protocol, nobody would be able to understand anybody > else’s orders, without the common language…the protocol. > > I’m currently in the process of putting together some documentation that > you may find useful. Let me know if you would like a copy and I’ll send > you a copy or a link depending on what publishing rules I will be > subject to. > > > 1. When we refer to FIX as a protocol, and also we mention that > > its not > > s/w, are we actually referring to a dedicated infrastructure that one > > has to follow when implementing a trade station? The infrasctruce > > may include routers,servers,couple of workstations. Does FIX define > > a particular architecture of connection?? > > > > 2. When sending transaction data or order update data, does FIX also > > strictly define a fixed string format stream, delimited either by > > spaces, or padding?If this is the case then all the major exchanges > > including CME,ECBOT,EUREX and s/w front end trading companies such > > as e-speed,Trade-Web would broadcast in the same format?? Is this > > true?? > > > > 3. Does FIX also relate to following a particular mechanism when > > dealing with order updates. eg. when a order at an exchange gets > > filled, should we always expect to see the individual counter-party > > fills that made up the whole fill(say filled qty was 50 but was > > done by 5 counteparties each supplying 10), and finally sending a > > book update message reflecting the new cumulative volume?? > > > > 4. Would you be able to supply me some kind of macro level diagram > > explaining the mechanism of what FIX protocol is all about?