FIX Protocol Limited (FPL) says FIX 5.0, the latest version of its messaging protocol, won the award for ‘Best Utility Technology’ at the Operations Management 6th Annual Awards for Excellence event held in New York in late September.
FIX 5.0 was officially released in production-ready format in January 2007. It aims to provide advanced functionality for a range of evolving trading needs, including greater functionality for foreign exchange and derivatives trading, improvements within the post-trade area, regulatory support for upcoming initiatives and greater functionality for algorithmic trading.
Additionally, FIX 5.0 includes a `transport independence framework' which aims to enable firms to benefit from the enhancements delivered with later versions of the protocol without a complete version upgrade. FPL reckons this will deliver significant cost and time savings for users.