FIX protocol for Forex
FIX is an industry standard protocol that allows easy integration of your trading strategies without using third-party applications. Professional and institutional Traders use FIX protocol to communicate directly with the ECN core, getting access to the internal liquidity and market depth. FIX protocol is the fastest way to exchange trading information, minimizing the quote latency and execution delays that is required to implement High Frequency Trading (HFT) strategies.
FIX protocol consists of two sessions: one is used to obtain the latest quotes, and another for trade execution. The Quote session allows you to subscribe to multiple levels of liquidity for each available symbol and process a large amount of market updates. The trading session allows you to send actual execution orders and receive back execution results including partial fills. FIX protocol allows you to easily implement your trading ideas as black boxes and is suitable for big HFT and prop-traders.