Role of FIX in matching engine

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Imported from previous forum

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Hello people,

I want to know the role of FIX if any in a matching engine. I am doing a project, its like a mini-stock exchange. Hence

Thank You

3

FIX would be one of the Order Entry methods in addition to the exchange specific interfaces. Order(s) from Buy sides would reach the exchange as FIX messages ^35=D^. Orders which pass the acceptence criteria set forth by the exchange get added to the Order book and the matching engine crosses matching orders as per “continous double auction”

http://user.it.uu.se/~tschudin/lect/19981999/ds1/proj/e1.html

Result of a cross would be execution report ^35=D^ when the party whose order got crossed is a FIX party.

Enjoy building ur mini-stock exchange :slight_smile:

Hello people,

I want to know the role of FIX if any in a matching engine. I am doing a
project, its like a mini-stock exchange. Hence

Thank You

4

I can see a couple of reasons (1) FIX would allow you to ease the connectivity to your exchange, both for business flow, and also at the post -trade processing level, and (2) if native, you would optimise the latency throughout. We have done this, have a look at http://demo.makeyourmarket.com
Best.

Hello people,

I want to know the role of FIX if any in a matching engine. I am doing a
project, its like a mini-stock exchange. Hence

Thank You