KARACHI: The Karachi Stock Exchange (KSE) has introduced Financial Information Exchange (FIX) Protocol for electronic trading.
According to KSE, the FIX Protocol is the industry-driven messaging standard in the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost efficient and timely manner.
Nearly every major stock exchange and investment bank uses FIX for electronic trading, as do the world’s largest mutual funds and money managers and thousands of smaller investment firms.
President & CEO, Mixit Inc, Walter V Fitzgerald said this technology will enable KSE members to seamlessly interact with their automated trading platform and offer Direct Market Access (DMA) capabilities to international trading partners.
‘This will standardise our offering enabling global reach hence providing mutual benefits to our members and their international trading partners,’ said Adnan Afridi, MD, KSE.
Powered by Mixit’s advanced FIX based technology, the KSE will be able to attract local, regional and global liquidity.—APP
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