FIX Protocol Limited (FPL) is looking to push the front office trading standard further into the future and options market through a collaborative agreement with The Futures Industry Association (FIA).
The organisations say they will work together to ensure FIX is futures and options compliant and will promote the benefits for the adoption of FIX as an industry-wide standard in the exchange-traded derivatives marketplace.
Under the agreement, representatives from both organisations will jointly serve on FPL's global derivatives committee (GDC) to further address the needs of the derivatives marketplace. Additionally, the two industry bodies will team up and use their support resources for joint marketing and educational events.
John Damgard, president of FIA, says: "Derivatives industry participants including exchanges, vendors and financial institutions are all represented by our membership."
FPL says the agreeement formalises what has long been a productive working relationship, adding that the input of the FIA Standards Working Group was invaluable in developing derivative functionality for FIX 4.4.