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The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data.
The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry.
Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body.
The company is regularly updating the protocol in order to implement the latest technological innovations and standards.
Ultimately there are only a few requirements to use a FIX API.
This includes connection details for a test (UAT) environment that should be used for testing before making a live connection.
A FIX API specifications document is also mandatory, which functions as a handbook for the protocol.
Why Use a FIX API?
Clients use a FIX API for several reasons. Many clients express an interest in cross-connecting with liquidity providers.
Additionally, there is always a need and emphasis for greater safety and maintaining the anonymity of a client’s automated systems.
Often there can be limitations of existing interfaces. Many well-known platforms need two or more ticks to fill an order, which is unacceptably slow for high-frequency strategies.
Quite simply, a FIX API can be preferable for clients who are not satisfied with existing financial platforms and interfaces.
This is due to the fact that it is traditionally impossible to control all system functionality simultaneously.
The FIX API ensures that the flow of data between different financial institutions is seamless and as close as possible to real-time.
Aside from brokers and their clients, it is also used by liquidity providers and regulators.
FIX API facilitates the transfer of data during the three phases of a trade: pre-trade, trade and post-trade.
Without exception, the construction of a robust email list of leads is essential to the success of affiliate marketing.
Additionally, there are several techniques for improving conversion rates such as the personalization of emails.
Of note, these emails adhere to General Data Protection Regulation (GDPR) requirements in Europe so it is advised to familiarize yourself with these protocols.