Question: What is the FIX (Financial Information Exchange)?
Answer: Financial Information Exchange (FIX) is a messaging standard to facilitates real-time electronic exchange of securities transactions. Which is adopted by equities, fixed income transactions. FIX helps in to connect and link various fixed income systems. FIX helps electronic trading to offer post-trade messaging services to support of their STP initiatives. However, some organization does not use FIX for post processing of trade internally and they use their own custom standards as well. You can imaging FIX is a standard format of the Fixed Income trade messages which can be shared among dealers and investors electronically, so that they can understand each other messages with standard way.
Question: Which all messages are handled by FIX today?
Answer: FIX handles a variety of messages necessary to conduct fixed income transactions like - Transmission of orders - Confirmation of trade executions - Allows dealers to supply bid or offer information for fixed income securities.
Question: What is FINRA stand for?
Answer: Financial Industry Regulatory Authority
Question: What is SEC stands for?
Answer: the U.S. Securities & Exchange Commission