FIX Protocol (FPL) has launched a new reduced-cost membership category that aims to encourage firms in emerging markets to become active FIX users by offering them the advantages of full membership.
Through a tailored pricing structure that offers a reduced annual membership fee of US$2,000, FPL aims to encourage participation from emerging markets “to ensure further growth within a supportive environment”.
Membership of FPL provides the benefits of electronic trading practices supported by the FIX Protocol which include greater automation, increased transparency, reduced error rates and the associated revenue opportunities and cost savings.
The revised pricing structure is targeted at firms operating within specific countries in Europe, Middle East & Africa, Latin America and Asia. FIX is a globally recognised messaging standard enabling the electronic communication of pre-trade and trade messages between financial institutions.
Firms that choose to join FPL will also benefit from other opportunities including the option to participate in the committees and working groups which explore how FIX can better support regional, asset class and industry-specific trading issues.
Member firms will also gain a stronger understanding of the protocol and upcoming developments in advance of the wider financial services community, in addition to networking and brand-building opportunities.