FIX user demographics

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Imported from previous forum

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Does anyone have any idea or researched the approximate percentage of what firms use each version of FIX? What is the percentage of firms using 4.0, 4.1, etc. Also, how likely is a firm say using FIX4.0 to upgrade to a higher version and what version would they upgrade to? Lastly, once they have implemented a version of FIX what would be the shelf life before they would upgrade again?

Thanks
Steve
http://www.asia-etrading.com

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[ original email was from Ainhoa Dewisme - ainhoa.dewisme@reuters.com ]
Hello Steve,

You can find a formal FIX Global Survey pdf from end 2005 on this fixprotocol.org site under News and Publications. It does have some of the information you are looking for. I believe a new survey is taken place by the end of 2007. I am not aware of any more recent studies.

Regards

Ainhoa

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[ original email was from Rodrick Brown - rodrick.brown@lehman.com ]
> Does anyone have any idea or researched the approximate percentage of

what firms use each version of FIX? What is the percentage of firms
using 4.0, 4.1, etc. Also, how likely is a firm say using FIX4.0 to
upgrade to a higher version and what version would they upgrade to?
Lastly, once they have implemented a version of FIX what would be the
shelf life before they would upgrade again?

Thanks Steve http://www.asia-etrading.com
It really depends on the instrument your trading 4.2 is still very popular with equity folks, and fixed income crowd are mostly on 4.4

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Yes - FIX 4.2 is most common ( I work mostly on equities)
Typically in a BUY side firm, this depends more on the client/vendor’s capabilities…

For instance ITG/MFN can still use only 4.0 whilst CRD exclusively uses 4.2.

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From my time at UBS (sell side) and Susquehanna (buy side) I’d say it’s split about 50/50 between 4.0 and 4.2. Very rarely have I seen 4.1 connections. This is all Equities.

Also - in 6 years of FIX I don’t think I’ve ever seen a single upgrade from one version to another. It tends to be more about clients / brokers adapting using specially agreed new fields than about adopting a higher standard than 4.2.

Dave

Does anyone have any idea or researched the approximate percentage of
what firms use each version of FIX? What is the percentage of firms
using 4.0, 4.1, etc. Also, how likely is a firm say using FIX4.0 to
upgrade to a higher version and what version would they upgrade to?
Lastly, once they have implemented a version of FIX what would be the
shelf life before they would upgrade again?

Thanks Steve http://www.asia-etrading.com