INTERMEDIATE // TRADING DESK
MODULE 06 // TECHNICAL

FIX Protocol Integration.

Integrate ABIS with FIX protocol messaging for real-time order flow analysis.

FIX INTEGRATION PATTERNS

FIX (Financial Information eXchange) is the standard protocol for trading communication. ABIS integration with FIX enables real-time behavioral analysis of order flow without modifying existing trading systems.

Integration approaches: passive tap (mirror FIX messages to ABIS), inline proxy (ABIS sits in FIX message path), and drop copy (receive copy of all executed trades). Each has tradeoffs in latency, completeness, and implementation complexity.

Key FIX messages for behavioral analysis: New Order (35=D), Cancel Request (35=F), Cancel/Replace (35=G), Execution Report (35=8). Extract behavioral signals from message patterns, timing, and field values.

PASSIVE TAP

Mirror FIX traffic to ABIS without affecting message flow. Zero latency impact but may miss some context.

ZERO LATENCY

INLINE PROXY

ABIS processes messages in-line. Full context but adds latency. Use for pre-trade checks.

FULL CONTEXT

DROP COPY

Receive copy of executed trades. Post-trade analysis only but guaranteed completeness.

POST-TRADE

HYBRID

Combine approaches: passive tap for real-time, drop copy for reconciliation and completeness.

RECOMMENDED
KNOWLEDGE CHECK // Q06
When would you choose inline FIX proxy integration despite the latency impact?