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Any application which is intended for Equities Trading, deployed on the side of a buyer, seller, brocker or broker or exchange.
FIX Connection
A physical connection between two FIX applications established to exchange of FIX messages . FIX connection is comprised of three parts: logon, message exchange, and logout.
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FIX Engine is a program written in any programming language like Java, C++ which is used to facilitate online trading using the FIX Protocol. it's protocol. It is an implementation of the FIX protocol and a single piece of software that manages a network connection, creates and parses outgoing and incoming messages , respectively, and recovers if something goes wrong. In short, the FIX engine Engine is an essential piece of software that is required to build electronic trading infrastructure.
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- Sockets library to open/close/read/write over sockets.
- Configuration to allow IP address and port number of one or more connections to be stored within the engine.
- Configuration to allow start/stop/sequence number reset times of one or more connections to be stored within the engine.
- Inward interface to allow other applications to send messages to and receive from the FIX engine. This interface should provide a degree of abstraction such that the FIX specific implementation details are not required to be known by other applications.
- Persistence to allow sequence numbers and/or FIX messages to be stored to deal with resend requests and temporary outages.
- Log file generation to allow messages sent and received to be written to disk for operator review.
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A FIX message is the information formatted in FIX protocol. FIX messages are formed from a number of fieldfields.
Each FIX field is a tag - value pairing that is separated from the next field by a delimiter SOH (0x01).
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