Storing FIX messages

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Imported from previous forum

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Hello,

I work for a Sell-Side firm and I am new user of the Fix protocol. I have some basic software integration questions.

We need to integrate a business partner via Fix, to store orders, and do some reporting as well as forward messages to other partners. We don’t need to integrate market data.

We already have a Fix engine (from NYFIX) that takes care of the low level and an IBM MQ infrastructure. My question is regarding which direction to take in this project: Build Or Buy a product?

I would prefer to buy, but the more I look at ‘order routing’ software the more I feel that the products available provide a lot more options that are necessary for our needs. If we go in this direction what category of product should I look for?

If we build the solution, creating a database structure with one-to-many relationship for complex tags (Instrument, Parties) etc… it seems to me like re-inventing the wheel. However, one possibility is to Store the fixml as a blob in the database.

I appreciate any advice or product suggestions.

Thank you

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[ original email was from Robert Stowsky - rstowsky@brookpath.com ]
I have posted a response to this on the Product Discussion forum under the thread “Storing FIX messages”. In that post I describe FIXML Datastore, our relational database model for storing FIXML.

Regards,

Robert

Hello,

I work for a Sell-Side firm and I am new user of the Fix protocol. I
have some basic software integration questions.

We need to integrate a business partner via Fix, to store orders, and
do some reporting as well as forward messages to other partners. We
don’t need to integrate market data.

We already have a Fix engine (from NYFIX) that takes care of the low
level and an IBM MQ infrastructure. My question is regarding which
direction to take in this project: Build Or Buy a product?

I would prefer to buy, but the more I look at ‘order routing’ software
the more I feel that the products available provide a lot more options
that are necessary for our needs. If we go in this direction what
category of product should I look for?

If we build the solution, creating a database structure with one-to-
many relationship for complex tags (Instrument, Parties) etc… it seems
to me like re-inventing the wheel. However, one possibility is to Store
the fixml as a blob in the database.

I appreciate any advice or product suggestions.

Thank you