CityIQ: Can FIX Replace Omgeo?
CONNECTIVITY
LONDON--Allocation and confirmation messages that conform to the latest version of the Financial Information Exchange (FIX) protocol could eventually rival post-trade services such as Omgeo’s, but for significantly less cost, say consultants at London-based specialist FIX consultancy CityIQ.
On Monday, June 9, CityIQ is slated to brief industry participants on the first steps toward FIX-based messaging for custodian banks, which could potentially save the industry $100 million per year, CityIQ
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