The FIX Global Post-Trade Working Group has been focusing its efforts on how to resolve the inefficiencies in post-trade workflow for a number of years. Following on from its work with cash equities, the group has assessed a number of different asset classes and how variations in workflow can create issues. Frequent trade breaks and slow resolution times can have a commercial impact as well as have adverse effects on client relationships.
By publishing a standardised and detailed set of guidelines for futures, equity swaps and FX equity options, FIX aims to provide a common workflow with minimal differences across asset classes, allowing connection to one or more third parties and/or intermediaries with the same protocol. With these guidelines, market participants can reduce risk and leverage off their current FIX infrastructure in place for trading and reduce implementation time and costs.
The new documents can be found here and are currently under public review until 12th October 2016.