iWay FIX Adapter
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The Financial Information Exchange (FIX) protocol is a message standard designed to facilitate the electronic exchange of securities-related information between brokerage houses, Electronic Communication Networks (ECNs), custodians, and banks. FIX was originally defined for use in supporting U.S. domestic equity trading with message traffic flowing directly between principals. As the protocol evolved, a number of fields were added to support limited cross-border and fixed income trading. Similarly, the protocol was expanded to allow third parties to participate in the delivery of messages between trading partners. As subsequent versions of FIX are released, it is expected that functionality will continue to expand. FIX was written to be independent of any specific communications protocol or physical medium chosen for electronic data delivery The iWay FIX Adapter is built with a 100% Java FIX engine that provides support for FIX protocol levels 4.0, 4.1, and 4.2. The iWay FIX Adapter supports the full 39 message types defined in FIX 4.2 specification that support pre-trade, trade, post-trade, and clearing/settlement processes in the securities industry.
Maximum Flexibility
The iWay FIX Adapter is integrated with leading application servers and message brokers through the iWay Service Manager and provides parsing, formatting, and transformation services to XML, non-XML, EDI, SQL, RPC, and packaged application interfaces. This provides FIX connectivity over IIOP and TCP/IP, but also the ability to integate FIX messages into internal front-office and back-office systems. iWay XML Transformation Workbench and message brokers can be used to map the transformation and workflows for FIX integration with internal (enterprise) systems. Supported environments include IBM WebSphere, IBM WebSphere MQ Integrator, Microsoft BizTalk Server, Microsoft Commerce Server, Oracle 9iAS, and Oracle 9iAS InterConnect.
Send and Receive FIX Messages
The iWay FIX Adapter has both a FIX listener and a FIX emitter, so that XML applications can be integrated as both a sender and receiver of FIX messages. IBM MQSeries, Microsoft Message and Queuing (MSMQ), and Oracle Advanced Queuing (AQ) add guaranteed delivery of FIX messages in a high-performance distributed system within the enterprise. SOAP and ebXML protocols can be used for reliable messaging between firms across the Internet.
Transform Messages in Complex Workflows
iWay XML Transformation Workbench and a supported message broker can be used to define integration rules to manage complex workflows for straight-through processing (STP), which is a major initiative in the securities industry. The iWay FIX Adapter can also map FIX messages into FIXML and then map FIXML messages back to FIX. This is an important consideration as organizations desire to take advantage of XML and Web Services for internal applications integration, but still need to support the non-XML proprietary FIX messages for communications across external networks.
Adapter Benefits
Some of the key features of the iWay FIX Adapter include:
- Support for the complete FIX 4.0, 4.1, and 4.2 (4.3 shortly) message sets
- Support for session and application FIX protocols from IBM MQSeries, Microsoft MSMQ, Java JMS and Oracle AQ
- Applications can both receive and publish FIX messages across TCP/IP and IIOP networks.
- The iWay XML Transformation Workbench provides a rich EDI rules engine to define custom messages and parsing rules, which can be integrated within iWay Service Manager without requiring coding
- FIX messages can be transformed to FIXML using the iWay FIX XML eBusiness Adapter and communicated over standard HTTP or SOAP protocols
Supports Emerging Standards & FIXML
FIXML was devised in 1998 by FIX Protocol Ltd., the company responsible for the Financial Information Exchange (FIX) electronic communications protocol, as an XML vocabulary based on the FIX protocol. Its aim is to continue FIX's goal of improving the global trading process by facilitating the exchange of real-time securities transactions. In July 2001, the organization announced plans to team up with SWIFT, which had been working on its own swiftML XML initiative. The collaboration centers around plans to converge their messaging protocols to create an XML-based version of the ISO 15022 protocol for securities message types, which is being developed by the International Standards Organization (ISO). The resultant ISO 15022 XML is to leverage FIX Protocol's expertise in the pre-trade/trade execution domain, and SWIFT's post-trade domain expertise to bring together different parts of the trade life cycle and work through issues hindering straight-through-processing (STP).
iWay provides FIXML support with the iWay FIX Adapter. This adapter supports the non-XML message formats of FIX (4.0, 4.1, 4.2, 4.3) together with the new ISO 15022 FIXML message formats. The iWay Service Manager can also dynamically format and transform FIX messages into FIXML or internal processing. This enables the use of FIXML for internal systems but still uses FIX messages for communication across networks with trading counter-parties.
For More Information
No other company provides the kind of sophisticated data integration and SOA-based integration technology that iWay Software does. To find out more, call toll-free (866) 297-4929 or e-mail us at info@iwaysoftware.com.