The FIX API is a universal standard. This is used by many banks, large brokers and hedge funds. The origins of the FIX API date back to the early 1990s, when several volunteer programmers were looking for opportunities to help with communication when trading stocks. In 1998, the team of programmers created a non-profit organization called FIX Protocol Limited (FPL), which specializes in protocol expansion, development, and support.
Reasons for clients to start using the FIX API
Customers are not satisfied with the existing financial platform and interface because it is impossible to control all system functions simultaneously.
Limitations of existing interfaces. For example, many known platforms need at least two bugs to execute commands, which is very slow for high-frequency strategies. The need for security and the anonymity of the client’s automated system. The desire to connect with cash providers.
Connection details for the test environment (UAT), to be used for testing before establishing a direct connection.
FIX API specification document, which is like a manual for the protocol.