I have a thesis to make, and it includes some trading and FIXatdl application, so I need some documentation about FIX protocol. I don’t need that official kind of documentation, in which there are details about each field its meaning. I’m looking for a book, article or anything about FIX history, some old version and new version changes, problems, architecture and so on.
The best advice I can give you is to use your favorite search engine. You should start with the FIX website and avoid the pages containing too much technical detail. Look at conference material (especially the main annual event in London) which is available for download. I am afraid it is more than a cut&paste exercise for you but after all it is a thesis, or?
Feel free to post any specific questions for clarification in this thread.
Unfortunately, I’ve doing the “google” stuff and I couldn’t find anything very suitable for what I need. Where are those conference materials that you’ve mentioned? Also, it’s just a dissertation, not a Phd or something .
Key is to get the four founders from a buy-side firm and a sell-side firm. FIX was the original Fintech. The equities business was dominated by IBM mainframes on the sell side and IBM and DEC VAX VMS on the buy side. Proprietary network architectures. The four creators - looked forward to emerging technologies and placed a bit on open systems and open TCP/IP communications using a very simple ASCII encoded tag=value format.
There was another premise at work that is critical. Enlightened self interest. The belief was if the buy-side and sell-side could maintain a balanced governance model, it would be better to build a single standard to replace voice brokering in the equities business than to have each sell side and their vendors creating proprietary protocols
The value proposition for an open systems, shared open standard was so compelling that we have run into very few governance issues.
The original FIX organization was built to exclude both exchanges and vendors. There was a buy-side co-chair and a sell-side co-chair. Around 2003, membership was changed to be open to venues, market infrastructure, and the vendor community.
Bringing this open standard based upon open systems, largely UNIX and TCP/IP, was nearly as radical an idea at the time as is DLT and cryptocurrencies today.
The time was right. Our FIX Gang of 4 nailed the solution with a simple fit for purpose standard that caught the wave at the exact right time. It allowed many of us to join in and ride the band wagon.