Customer Reviews

The Fix Guide: Implementing the FIX Protocol

5 star:		(2)
4 star:		(0)
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2 star:		(2)
1 star:		(1)

 

 

Very high level 'executive' overview of brokerage systems that use FIX. This book is of no value to anyone who needs to actually deal with any issues related to implementation of FIX. You could get much better information from (the very badly organized) Fix website: www.fixprotocol.org

Why is it that when you put a lot of presumed smart diligent people in an industry group it inevitably degenerates into an internal terminology obfuscation contest producing un-user friendly documentation and lousy websites?

If anyone knows of a good book on programming a FIX engine please let me know.

When this book first came out I thought it would provide a good introduction to FIX and how to implement it; so I bought a copy. I was thoroughly disappointed. While waiting for the book to arrive I had spent a few days browsing through the FIXprotocol.org website and I had already learned more about FIX than what this book had to offer.

As other reviewers have said, if you are a high level manager who doesn't know FIX and wants to know what the fuss is all about, you might be able to gain something from this book. However if you are a developer/implementor or a FIX certification specialist, this book will provide very little value to you.

This small book is necessary for everybody which is involved in a FIX implementation project. A excellent guide for this work.

I suppose if you're a middle manager who's trying to figure out what FIX is all about, then this book might be a valuable addition to your bookshelf. If, however, you're a technologist and it's your responsibility to implement a FIX engine and/or integrate with one, then this book is a complete waste of time. Save some trees and go directly to the FIX web site for much more in-depth information. Despite the name which sounds quite authoritative, this is pulp, at best.

The FIX Guide was written by 30 financial services professionals in 2005.

It details the methods of connecting to counterparties, choosing FIX engines and networks, testing an implementation, training and a model "rules of engagement" for use with counterparties.

Diagrams are included that outline the me implemenation ssage flow for fixed income.

This Guide was written for business managers, trading desk personnel, IT and back office staff.

More information is available on the FIX protocol website.

2009 addendum: Several reviewers have rightly suggested using the FIX protocol website site for implementation information. The standard has made significant advancements since we developed this guide to help users from collaborative work done in 2003-2004. If you are a buy side or hedge firm your best resource for FIX information is the sell side firms, FIX engine and OMS vendors. Also there are excellent threads on the FIX site to ask specific questions of FIX users.