Ideas toward a template for standards
- Overview (what product does the standard apply to) ( a precis of all the sections below)- applicability to CMSIG
- Category (Is it a data standard, a data interchange standard, a standard for legal contracts also )
- Standards body that controls the standards and governance around this
- Regulation or sovereign adoption (i.e. which regulatory agencies refer to the standard), is it a requirement
- Adoption rates
- Perceived challenges or gaps
- Next steps....
FIX/FIXML:
Overview:
The Financial Information eXchange (FIX®) Protocol is the standard way for financial participants to exchange information (Orders, Executions, Trades, Market Data) between them. It is the most widely used protocol for trading most assets ranging from Equities, FX, Fixed Income and derivatives covering Futures, Options and Swaps.
You can find more details here https://www.fixtrading.org/what-is-fix/