Imported from previous forum
On July 5, 2001 FIX Protocol Limited (FPL) and SWIFT announced that the two organizations will seek convergence of their respective messaging protocols by centering on the development and adoption of ISO 15022 XML as a common industry standard. FPL and SWIFT will actively support the efforts of ISO Working Group 10; the group focused on ISO 15022 XML’s development. ISO 15022 XML can be viewed a superset of existing protocols such as FIX, the current ISO 15022, GSTPA, FpML, etc. developed via the use of business modeling with a XML Schema-based representation. ISO 15022 XML will leverage the experience and expertise of FPL in the pre-trade and trade (orders and executions) domain and the work facilitated by SWIFT in the post-trade domain. In addition, there are numerous other firms and standards bodies committed to and involved in the ISO Working Group 10 process.
This is both a complex and long-term process. Adoption will likely involve some degree of change by the existing users of FIX, the present ISO 15022 data dictionary-based protocols, FpML, etc. The ISO Working Group 10 efforts need to be completed in order to determine this level of change. A smooth transition to ISO 15022 XML for the existing users of all of the existing standards must be defined. The barometer of success will be the widespread interest, adoption, and conversion by the user community.
FPL will support the ISO Working Group 10 effort and resulting ISO 15022 XML. FPL will also continue to support the current FIX Protocol, in both traditional "Tag=Value" and FIXML syntaxes, and its user base until the present FIX user community adopts and migrates to the use of ISO 15022 XML. FPL will feed future functional enhancements into the ISO 15022 XML business models and based upon the level of ISO 15022 XML adoption at that time, into future FIX Protocol specification releases if necessary.
Press Release: http://www.fixprotocol.org/cgi-bin/PrintPage.cgi?file=WORKGROUPS/994459967/SWIFTFIX_Rel_20010706.htm
Also refer to FPL’s FAQ re: ISO 15022 XML Announcement: http://www.fixprotocol.org/cgi-bin/PrintPage.cgi?file=WORKGROUPS/994459967/FPL_FAQ_re_ISO15022XML_PR_20010706.htm
Scott Atwell
FIX Technical Committee co-chair
FIX Global Steering Committee member
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