FIX Protocol Ltd (FPL) is launching an industry initiative to provide a certification programme for users of the Financial Information eXchange (FIX) protocol.
The focus of the programme will initially be on fixed income securities, although the FPL intends to expand the scope of certification to include other financial products in the future.
FPL has released a Request for Information (RFI) that specifically requests FPL members who are interested in becoming certifiers to contribute to the process by reviewing its approach to certification. The RFI can be found in the certification working group section of the FIX Protocol Web site. Responses are due by 6 October 2003.
The certification working group will review the RFI responses and hold a Q&A session for those responding. The objective of the RFI action is to develop a Request for Proposal (RFP), which is currently scheduled for public release in mid-October. Initial certifiers will be announced in December 2003.
The company says it decided to form a certification programme following the improvement of fixed income support included in FIX version 4.4, which was the result of a collaboration with The Bond Market Association. FPL hopes the programme will ensure consistency in standard usage for FIX 4.4 and fixed income.
In addition, FPL expanded its membership in January this year to include vendors that provide FIX engines and FIX certification services. FPL says this change in membership allows the certification programme to be a true industry initiative developed, operated and serviced by its members.