| FIX Inter-Party Latency Working Group Shortlisted for Prestigious Financial News Award |
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Published by Fix Protocol Limited
Industry group’s dedicated effort to create the first set of industry-wide standards for latency measurement is shortlisted for the highly coveted ‘Editor’s Choice’ Award London and New York, August 1st, 2011 - FIX Protocol Limited (FPL), the non-profit industry association that owns, develops and promotes the FIX Protocol family of standards, is honoured that the FIX Inter-Party Latency (FIXIPL) Working Group has been shortlisted in the ‘Editor’s Choice’ category for the highly celebrated ‘Financial News Excellence in Trading and Technology Awards’. The award winners will be decided by a panel of judges and announced at a ceremony on October 4th in London. FPL is focused on developing standards to address the business challenges impacting the global trading community. Latency measurement is an area that was highlighted by FPL Member firms as one that would benefit from greater standardisation. Many firms make various claims regarding ever decreasing latency levels, but there is no consistency behind what each firm is measuring, raising questions regarding whether they are really comparing like-for-like. To address this issue, FPL launched the FIXIPL Working Group in 2010, which quickly became FPL’s largest member group. This group is developing a new standard that will allow firms to make equal comparisons, by providing a benchmark to measure the speed of a trade as it moves though different systems at multiple exchanges, trading venues and investment banks. Testing of the new standard was recently conducted in three independent real-world environments by separate FPL Member firms. Additional testing is now underway to incorporate further functionality that will meet all comprehensive business needs and ensure the standard effectively supports industry requirements when it is released to the market in Q4 2011. Commenting on this announcement, Henry Young, Co-Chair of the FIX Inter-Party Latency Working Group, Chief Executive, TS-Associates stated “I am delighted that the working group’s efforts have been recognised and shortlisted for this award. The launch of FIXIPL will have a significant impact on the trading community and provide the industry for the first time with greater transparency in latency measurement. I would like to thank the highly dedicated FPL Member firm volunteers that participate within the group and for the knowledge and experience they continue to share as we work together to complete the standard.” About FIX Protocol Ltd Contact: |
