FIX Protocol Ltd. (FPL) has released a new version of its XML-based specification for advanced algorithmic trading support, four months after it became a fully approved standard.
The FIX algorithmic trading definition language (FIXatdl), an effort to bring standardization to the distribution of an ever expanding number of proprietary algorithmic strategies--and expand the FIX protocol franchise--allows firms to control how their order types are expressed and transmit them via FIX. Version 1.1 offers advanced validation rules, making the process far more automated, according to FPL.
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