Guidance required

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Imported from previous forum

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Hello,

I’m new to FIX and I’m looking for guidance. I’m a software developer with extensive experience in various comms protocols (ISO, IP and others), but I lack relevant ‘domain expertise’ with regard to FIX. My interest in FIX is, at least for now, purely academic. In particular, I’m interested not just in the protocol as it stands now (and how it differs from other protocols to meet business requirements), but how it has evolved.

At this stage it would be very helpful if someone could point in the direction of any information concerning the types of transactions supported by FIX, the parties involved and their roles in the context of those transactions. Obviously there are the protocol specs themselves (so far I’ve read FIX2.7a and skimmed FIX4.4), but something a little more narrative would be useful.

Also, I have hundreds of dumb questions – What is a security? What’s an equity? Is a security a type of equity? What’s a market? Is an exchange a market? What’s an ECN? – so anything that would constitute good background reading would be welcome. Don’t worry, I’m not going to start spamming this forum with this sort of question!

However, I am thinking of setting up a blog (and maybe a Wiki) to record my ramblings and give people the opportunity to give me feedback.

Any comments welcome,

Wayne.

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Also, I have hundreds of dumb questions – What is a security? What’s an
equity? Is a security a type of equity? What’s a market? Is an exchange
a market? What’s an ECN? – so anything that would constitute good
background reading would be welcome. Don’t worry, I’m not going to start
spamming this forum with this sort of question!

However, I am thinking of setting up a blog (and maybe a Wiki) to record
my ramblings and give people the opportunity to give me feedback.

Hello Wayne,

have a look at WikiFIX hosted by the free open source engine WikiFIX:

http:://www.quickfixengine.org/wiki

This site fits your needs quite good:

  • You find explanations.
  • You find links to other sides explaining more.
  • You can contribute.

Also have a look at QuickFIX.

Have fun!

Cheers, Jörg

4

[ original email was from Candyce Edelen - cedelen@ibsncentral.com ]
Wayne,

For an overview of how the market works, I’d recommend two books:

“After the Trade is Made,” by David M. Weiss
“How the U.S. Securities Industry Works,” by Hal McIntyre

Best regards,

Candyce Edelen
IBSN, Inc.

Hello,

I’m new to FIX and I’m looking for guidance. I’m a software developer
with extensive experience in various comms protocols (ISO, IP and
others), but I lack relevant ‘domain expertise’ with regard to FIX. My
interest in FIX is, at least for now, purely academic. In particular,
I’m interested not just in the protocol as it stands now (and how it
differs from other protocols to meet business requirements), but how it
has evolved.

At this stage it would be very helpful if someone could point in the
direction of any information concerning the types of transactions
supported by FIX, the parties involved and their roles in the context of
those transactions. Obviously there are the protocol specs themselves
(so far I’ve read FIX2.7a and skimmed FIX4.4), but something a little
more narrative would be useful.

Also, I have hundreds of dumb questions – What is a security? What’s an
equity? Is a security a type of equity? What’s a market? Is an exchange
a market? What’s an ECN? – so anything that would constitute good
background reading would be welcome. Don’t worry, I’m not going to start
spamming this forum with this sort of question!

However, I am thinking of setting up a blog (and maybe a Wiki) to record
my ramblings and give people the opportunity to give me feedback.

Any comments welcome,

Wayne.

5

For definitions of basic terms, the Investopedia dictionary is great resource. Policy Pages

Their tutorial section is also great for learning the basics: Policy Pages

Also, I have hundreds of dumb questions – What is a security? What’s an
equity? Is a security a type of equity? What’s a market? Is an exchange
a market? What’s an ECN? – so anything that would constitute good
background reading would be welcome. Don’t worry, I’m not going to start
spamming this forum with this sort of question!

However, I am thinking of setting up a blog (and maybe a Wiki) to record
my ramblings and give people the opportunity to give me feedback.

Any comments welcome,

Wayne.

6

Thanks all. This gives me plenty of material to get started.

And thanks for the promptness of your replies.

Wayne.