Imported from previous forum
New York, September 23, 2003– FIX Protocol Ltd. (FPL) is sponsoring an industry initiative to provide a Certification Program for users of the Financial Information eXchange (FIX) protocol. FPL has released to the public a Request for Information (RFI), Developing an FPL Sponsored Certification Program, and is available in the Certification Working Group section of the FIX Protocol website (www.fixprotocol.org). Initially the focus of the program will be on fixed income securities but upon proving the concept for these securities, FPL intends to expand the scope of certification to include other financial products.
The RFI specifically requests FPL members, particularly those that are interested in becoming certifiers, to contribute to the process by reviewing FPL’s approach to launching a Certification Program. FPL’s approach is described in a draft Request for Proposal (RFP) and a draft Rules of Engagement (ROE), attachments to the RFI. Responses to the RFI are due October 6, 2003 to the FPL Program Office, to Max Mansur of SWIFT, Executive in Charge for the Certification Working Group, and Dan Doscas of Lehman Brothers, Chairman of the Global Fixed Income Committee (GFIC).
The Certification Working Group will review the RFI responses and hold a Q&A session for those responding. The objective of the RFI action is to refine the RFP for public release, currently planned for mid-October. FPL intends to announce selection of the initial certifiers in December 2003.
Two key events have stimulated the interest in Certification. The first was the improvement of Fixed Income support, included in FIX 4.4, which was based on collaboration with The Bond Market Association. As a result of having a Certification Program in place, FPL hopes to ensure consistency in standard usage for FIX 4.4 and Fixed Income without reducing the flexibility and extensibility that have become hallmarks of FIX as a protocol. Prior versions of FIX have experienced a divergence in standard usage reflected in various dialects or interpretation.
The second key event which contributed to the increased interest in a Certification Program was announced in January 2003. FPL expanded its membership to include vendors and organizations, to include those that provide FIX engines and FIX certification services. This change in membership allows the Certification Program to be a true industry initiative developed, operated, and serviced by FPL members.
About FIX Protocol Ltd
FIX Protocol Ltd is a non-profit organization that owns the intellectual property rights of
the Financial Information eXchange protocol (FIX), which is provided free in the public
domain. FIX is a globally recognized messaging standard enabling the electronic
communication of pre-trade and trade messages between financial institutions, primarily
investment managers, broker/dealers, ECNs and stock exchanges. For more
information, see www.fixprotocol.org.
Contact
Mr. Max Mansur at: +1 (703) 365 6207 (Executive in Charge, FPL Certification WG)
Mr. Dan Doscas at: +1 (212) 526 0747 (Chairman, FPL Global Fixed Income Committee)
Mr. Tom Jordan at: +1 (212) 652 4469 (FPL Program Office)