The FIX protocol has existed for about 10 years and started out as an internal solution between Solomon Brothers and Fidelity and has since grown into the go to communications protocol and messaging standard for financial markets. Wikipedia's page on FIX starts out:
The Financial Information eXchange (FIX) protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to the securities transactions and markets. With trillions of dollars traded annually on the NASDAQ alone, financial service entities are investing heavily in optimizing electronic trading and employing Direct Market Access (DMA) to increase their speed to financial markets. Managing the delivery of trading applications and keeping latency low increasingly requires an understanding of the FIX protocol.
The FIX protocol's own site:
The Financial Information eXchange ("FIX") Protocol is a series of messaging specifications for the electronic communication of trade-related messages. It has been developed through the collaboration of banks, broker-dealers, exchanges, industry utilities and associations, institutional investors, and information technology providers from around the world. These market participants share a vision of a common, global language for the automated trading of financial instruments.
FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost efficient and timely manner. FIX is open and free, but it is not software. Rather, FIX is a specification around which software developers can create commercial or open-source software, as they see fit. As the market's leading trade-communications protocol, FIX is integral to many order management and trading systems. Yet, its power is unobtrusive, as users of these systems can benefit from FIX without knowing the language itself.
HORSES FOR COURSES
Synthesis Consulting has very sound experience with FIX implementations. From post trade straight through processing (STP) and order routing in the cloud to compliance applications with custom FIX messages. Some implementations require complex business processes others low latency and real-time processing is the focus. Our specialities in BizTalk and StreamInsight combined with solid experience with FIX places us in a unique position to be able offer solutions that are appropriate for most scenarios.
Rapid Addition's BizTalk FIX Adapter is, in our opinion the stand out solution for implementing FIX within the service bus. The flexibleness and reliability of BizTalk combined with great development tools enable FIX applications to be built quickly that offer support for long running transactions, business processes, business activity monitoring and rules engines out of the box. Don't overlook the fact that Rapid Addition, first and foremost specialises in FIX engines. This provides the peace of mind that the engine behind the adapter is a fully fledged FIX engine built by a firm that is a leader in the industry, known for reliable, fast and well supported FIX engines.
Synthesis Consulting has an excellent working relationship with Rapid Addition and years of experience with their product as well as BizTalk itself. Synthesis Consulting is well placed to ensure you get the most of out of both products.