FPL launches new version of algorithmic trading language

Source: FIX Protocol Ltd

FIX Protocol Ltd (FPL) is proud to announce the launch of the FIX Algorithmic Trading Definition Language (FIXatdl) 1.1.

This new FIX standard allows the simple and free XML expression of electronic trading capabilities enabling firms to automatically generate rich and dynamic trader GUI's.

FIXatdl complements the widely adopted FIX Protocol messaging standard and allows firms receiving orders to specify exactly how their electronic orders should be expressed. Orders built using FIXatdl can then be transmitted from the trader's systems via the FIX Protocol. All versions of the FIX Protocol are fully supported and no changes to the underlying FIX infrastructure are required.

FIXatdl 1.0 became a fully approved FIX standard in March 2008. This update to version 1.1 builds upon the previous release, incorporating feedback gained from the industry and adding new capabilities for advanced validation rules and dynamic trader GUI workflows. Rules may now be named and expressed once, then reused and cascaded to allow maximum control over virtually all aspects of workflow and final order validation. Validation was named as the number one problem area, consuming considerable technical resources in upgrading order management systems to allow advanced new trading strategies. FIXatdl 1.1 now enables this validation process to be extremely comprehensive with greater automation.

Several OMS vendors are now engaged in developing software products that can support the new FIXatdl standard, with product announcements expected shortly. A free, open source project on SourceForge is also underway and available for download. Broker dealers and other execution providers may now publish their various electronic trading capabilities under this new 1.1 version and be assured there will be immediate and rapidly growing support for those trading strategies in the marketplace.

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