Incentage

In the securities industry, the Financial Information eXchange (FIX) Protocol has increased in importance and acceptance as the leading standard for communication in the pre-trade, trade and post trade processes. When successfully combined with communication over S.W.I.F.T., it can form the solid basis of a STP solution in this potentially complex area..

Many versions

As with all good standards, the FIX protocol has evolved over time. There are many versions in use in the market - the most popular being 4.0, 4.1, 4.2 and 4.3. As the FIX protocol is used in a peer-to-peer mode, it is important that users know the version their counterparts are using. It can also be important to support multiple versions in parallel.
FIX

New developments

XML is everywhere these days - and the FIX protocol is no exception. The latest version of the protocol (4.3), allows messages to be constructed in XML (FIXML) as well as the traditional Tag/Value method. Also, there is an initiative to have the next versions of both the FIX and SWIFT standards based on a common ISO 15022 financial data dictionary.

Incentage has the technology

We have built a FIX gateway and adapter into our Incentage Middleware Suite. It offers the advantage of FIX version independence - as our FIX adapter supports all versions - both Tag/Value and FIXML. When combined with the flexibility of the Incentage RulesStudio, and other adapters - such as XML, SWIFT or database - our clients have the power and flexibility to make use of all flavours of the FIX protocol in existing and planned systems. As Incentage has been developed using Java, our clients achieve platform independence as well as flavour independence.

Flexibility is important

At Incentage, we believe that the best way to meet the challenges and opportunities in the FIX protocol is to have a flexible rules based middleware that allows quicker turn around while maintaining security and control.

Also, if you have an existing FIX gateway that you are happy with then the Incentage solution is flexible enough to integrate with it and to bring you the power of the Incentage Middleware Suite while protecting your existing investment.

Knowledge is crucial

We have many years of experience in the securities industry. We know that working with FIX or SWIFT is not just a technical issue. It also requires a depth of knowledge about the standards, their meaning and appropriateness. We know where FIX and SWIFT overlap - and where they specialize. We know when conversions between standards (e.g. FIX Order to SWIFT MT502) are appropriate - and when they are not. And we have the tools to make it happen - quickly.