Site Update. For the past year my direct work expanding this documentation encyclopedia has been minimal as I allocated virtually all of my volunteer time to FIX to work directly on the upcoming Algorithmic Order standard. After much hard work and discussion in that group I’m happy to report that a late stage draft is now released for broad public comment and pilot testing. See: http://www.fixprotocol.org/working_groups/algowg/documents

Up to now utilization of the FIX protocol by groups managing less than $100m in assets has been cost prohibitive do to the expense of maintaining dedicated IP communication circuits and the considerable variation in individual features adopted by each contra party. However, all that is about to change with the newest FIX 5.0 release, which came out in January 2007. The 5.0 version isolates out the IP transport layer, opening the door for an immense group of participants to adopt common web services (ws-*) over the Internet to virtually eliminate the cost of deploying the full power of FIX. This is a dynamic area in Investment and Trading Systems and designers of future systems are encouraged to register here at ITSdoc.org to get access to the newest emerging raw material ahead of when it can be refined and incorporated into the public pages. -Rick

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