FIX extends industry standards with post-trade workflow guidelines

FIX is looking for public comment on its new guidelines for multi-asset post-trade workflows.

The FIX Trading Community has released a new set of guidelines for post-trade workflows across several asset classes.

The community’s post-trade working group – consisting of buy- and sell-side post-trade vendors – has drawn up the guidelines to be used for equity swaps, futures and foreign exchange. 

The guidelines are a practice for the placement and post-trade workflows for multi-asset trades between the buy- and sell-side.

FIX is now looking for input from the industry on the guidelines, which can be found here.

The documents will be available for public comment for 90 days, when the global technical governance board at FIX will meet to review, before final approval.

Scott Atwell, Manager FIX Trading and Community at American Century Investments, explained his firms uses FIX Confirms 4.4 for 90% of the firm’s non-US equity confirmations. 

Atwell added that using the FIX post-trade standard can improve efficiency, allows issues to be identified quicker, and improves straight-through processing. 

FIX also claims the standard can reduce risk and costs.

Co-chair of FIX’s global post-trade working group and principal services analyst at Itiviti, Dave Tolman, said the group’s focus is to improve buy-side processing of trades.