Instinet's Bond Service Not Using FIX; XML To Take Place Of Javelin's Engine
TRANSACTION SYSTEMS
NEW YORK--While Javelin Technologies recently scored a coup in licensing its FIX protocol engine to retail trading giant Discover Brokerage, it has lost out in a bid to supply its Financial Information Exchange (FIX) protocol engine to Reuters Instinet for its fixed-income trading platform.
What's more, Instinet is believed to be abandoning FIX in favour of an implementation of the Extensible Mark-up Language (XML). At least one industry source believes that XML combined with an application
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