This proposal from the FIX Orchestra Subgroup provides the details of the FIX Orchestra Technical Standard Release Candidate 3.
FIX Orchestra was conceived as machine readable rules of engagement between counterparties. As such, it is a standard for exchange of metadata about the behaviour of FIX applications. Orchestra is intended to cut time to on-board counterparties and improve accuracy of implementations.
FIX Orchestra does not change FIX Protocol itself in any way, nor does it obsolete existing FIX engines or tools.
The third release candidate documents for FIX Orchestra can be found here: http://www.fixtradingcommunity.org/pg/structure/tech-specs/fix-orchestra
Orchestra Release Candidate 3 provides these enhancements to RC2:
• The XML schema was simplified to support a single protocol version per file.
• Scenarios were extended down to the component level as well as to messages. For example, different flavors of the Instrument block can be defined for different asset classes or for a full version versus a brief version.
• Discriminator fields that modify the data domain of another field, such as SecurityIDSource and SecurityID, are now machine readable.
• The schema now supports rendering hints to inform code generators and the like.
• Facilities were added to define stable semantic concepts for which encoding changed between versions of FIX. For example, the Rule80A field in FIX 4.2 was replaced by OrderCapacity and OrderRestrictions fields.
• More demonstration programs are available publicly in GitHub: a documentation generator, test generator, and message translator. The translator takes advantage of the stable semantic concepts.
The proposal is following the technical standards review process described in the document found here: http://www.fixtradingcommunity.org/mod/file/view.php?file_guid=46944
This release candidate now enters a public comment period in which public review and feedback is encouraged. The public comment period will run for a period of 90 days beginning on the 13th of March 2018.
Please post feedback, comments, and questions as replies to this discussion thread.