FIX Trading Community

“𝗥𝗲𝗶𝗺𝗮𝗴𝗶𝗻𝗶𝗻𝗴 𝗘𝗧𝗙 𝘄𝗼𝗿𝗸𝗳𝗹𝗼𝘄𝘀: 𝗙𝗿𝗼𝗺 𝗙𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗲𝗱 𝘁𝗼 𝗙𝗜𝗫𝗲𝗱” – 𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗙𝗜𝗫 𝗪𝗼𝗿𝗸𝘀𝗵𝗼𝗽 𝗼𝗻 𝗘𝗧𝗙 𝗖𝗿𝗲𝗮𝘁𝗶𝗼𝗻 & 𝗥𝗲𝗱𝗲𝗺𝗽𝘁𝗶𝗼𝗻 Thank you to everyone who joined our FIX Trading Community workshop on ETF creation and redemption workflows.  The discussion brought together ETF issuers, authorised participants, trading desks, venues and service providers to explore opportunities for greater 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗶𝗼𝗻, 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗮𝗻𝗱 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝗶𝘀𝗮𝘁𝗶𝗼𝗻 across the ETF lifecycle — from primary market creation/redemption through to secondary trading and post-trade settlement. 𝗞𝗲𝘆 𝘁𝗵𝗲𝗺𝗲𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝗱:  • The need for 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆-𝘄𝗶𝗱𝗲 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝗶𝘀𝗮𝘁𝗶𝗼𝗻 of ETF creation and redemption workflows, given the lack of a global standard and the diversity of technical implementation approaches. This would reduce operational risks, improve efficiency and have knock-on effects on ETF liquidity metrics  • The 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗙𝗜𝗫. The group recognised FIX as the preferred solution for long-term standardisation, while Rest API are seen as a practical interim option. Both issuers and APIs see value in having the entire chain from creation and redemption to trading and settlement automated via FIX. Those without a FIX connectivity over the next few years may potentially face a risk of being cut-off  • The importance of 𝗰𝗼𝗺𝗺𝗼𝗻 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 𝗮𝗿𝗼𝘂𝗻𝗱 𝗺𝗲𝘁𝗮𝗱𝗮𝘁𝗮 𝗮𝗻𝗱 𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗱𝗮𝘁𝗮 to support automation and interoperability.  • The requirement to 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗲 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗺𝗶𝘁 𝗯𝗮𝘀𝗶𝗰 𝘀𝘁𝗮𝘁𝗶𝗰 𝗱𝗮𝘁𝗮 𝗮𝗻𝗱 𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗱𝗮𝘁𝗮, as well as reject messages and NAV information via FIX fields  • Post-trade challenges such as 𝗳𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗲𝗱 𝘀𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻𝘀 and the implications of 𝗧+𝟭 settlement for cross-border ETFs. As a key next step, FIX will be 𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗮 𝗱𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝘄𝗼𝗿𝗸𝗶𝗻𝗴 𝗴𝗿𝗼𝘂𝗽 to advance the discussion around standardisation of ETF creation and redemption workflows. 👉 If you’re interested to contribute, please contact 𝗳𝗶𝘅@𝗳𝗶𝘅𝘁𝗿𝗮𝗱𝗶𝗻𝗴.𝗼𝗿𝗴 A big thank you again to all participants for your time & insights, and to ETPLink for hosting this productive session. #FIXTradingCommunity #ETFs #MarketStructure #Automation #Standardisation #PostTrade #APs #TradingTechnology #ETFcreationredemption DWS Group Vanguard Goldman Sachs SSGA RBC Jane Street Cboe Global Markets Euronext Invesco Ltd. Amundi ION

𝗖𝗼𝗻𝘀𝗼𝗹𝗶𝗱𝗮𝘁𝗲𝗱 𝗧𝗮𝗽𝗲, 𝗗𝗮𝘁𝗮 & 𝗠𝗠𝗧 – ever wondered how FIX standards fit into the design of the European consolidated tapes? Find out at the France Trading Conference in Paris on Thursday 20th November. Join Marc Berthoud, FIX’s MMT (Mixed Market Typology) expert, alongside Alicia Suminski, 𝗘𝘂𝗿𝗼𝗖𝗧𝗣, Sassan Danesh, 𝗘𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 𝗮𝗻𝗱 Jim Kaye, 𝗙𝗜𝗫 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 as they explore how the 𝗹𝗮𝘁𝗲𝘀𝘁 𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗠𝗧 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱 is being applied in practice within the new consolidated tape framework. Then join us later in the day at the 𝗙𝗜𝗫 𝗙𝗮𝘀𝘁 𝗧𝗿𝗮𝗰𝗸 for more on the consolidated tape. View the full agenda here: https://lnkd.in/g6XASfgN 📅 𝗗𝗮𝘁𝗲: 20 November 2025📍 𝗟𝗼𝗰𝗮𝘁𝗶𝗼𝗻: Étoile Business Center, Paris 👉 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/eDKpxrQ4 #FIXevents #FIXFrance #FIXTradingCommunity #CT #CTP #MMT #ConsolidatedTape

🌎 𝗞𝗶𝗰𝗸𝗶𝗻𝗴 𝗼𝗳𝗳 𝘁𝗵𝗲 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲! We’re thrilled to be live at this year’s event, proudly sponsored by Iress, Linedata, Broadridge, and SS&C Technologies. After a warm welcome from Emiko Kamoda and Scott Govoni, we’re diving into a packed agenda: 🔹 Exploring the market and technical implications of 𝟮𝟰/𝟱 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 in the U.S.  🔥 A compelling 𝗙𝗶𝗿𝗲𝘀𝗶𝗱𝗲 𝗖𝗵𝗮𝘁 on Collaboration Across Communities with Jim Toes and Jim Kaye  💬 A pre-lunch debate on the balance between 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗮𝗻𝗱 𝗹𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 in fragmented markets  🔗 Plus, a look at how 𝗙𝗜𝗫 𝗣𝗿𝗼𝘁𝗼𝗰𝗼𝗹 is shaping infrastructure for 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝘀𝘀𝗲𝘁𝘀 It’s a day of insights, innovation, and connection — and we’re just getting started. #FIXProtocol #FIXAmericas #FIXTradingCommunity #DigitalAssets #TradingInnovation #Networking #24x5Trading #FIXEvents Larry Tabb, Diwa C., Bryan Christian, Noel Reyes, Jesse Greif, Armando Diaz, John G., Andrew Oppenheimer, Anton Katz, Chris Rice, Patrick O'Meara Elisabeth Kirby, Brandon "Rym" DeCoster Elena Treshcheva Peter Wemyss, Robert Newhouse Kevin Houstoun Argyro (Iro) Tasitsiomi, PhD Jean-Marc N. Rashmi Rao, MBA Travis Ni George Rosenberger

We’re delighted to introduce you to our line-up of expert speakers joining us at the 𝗙𝗿𝗮𝗻𝗰𝗲 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 in Paris. This year’s programme brings together leading voices from across the trading and investment community, from buy-side and sell-side firms to technology providers and regulators, to share their perspectives on market structure, innovation and the future of trading in France and beyond. 📅 𝗗𝗮𝘁𝗲: 20 November 2025📍 𝗟𝗼𝗰𝗮𝘁𝗶𝗼𝗻: Étoile Business Center, Paris 👉 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/eDKpxrQ4 #FIXEvents #FIXFrance #FIXTrading Community

Join us on 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟯𝟬𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱 — A gathering of the minds driving innovation across global markets. 📍 @𝗘𝗮𝘀𝗲 𝟲𝟬𝟱, 𝟲𝟬𝟱 𝗧𝗵𝗶𝗿𝗱 𝗔𝘃𝗲𝗻𝘂𝗲, 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸, 𝗡𝗬 🕘 𝟵:𝟬𝟬 𝗔𝗠 – 𝟲:𝟯𝟬 𝗣𝗠 𝗘𝗗𝗧 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/dDmSZdb5 #FIXEvents #FIXTradingCommunity #FIXAmericas #LitMarkets #DarkPools #Transparency #Liquidity Scott Charity Scott Govoni Emiko Kamoda Jim Kaye Steven J. Kelly, CFA Nick Platts Laura Ponder Lou Rosato Lee E. Saba George Rosenberger Natasja Haig Bethan Pharoah Sinead van den Berg Yuhang Wang

𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱, 𝗧𝗵𝘂𝗿𝘀𝗱𝗮𝘆, 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟯𝟬𝘁𝗵 𝗮𝘁 @𝗘𝗮𝘀𝗲𝟲𝟬𝟱, 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸 As we prepare for this year’s 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱, we’re proud to be supported by a group of exceptional sponsors who help us elevate the conversations that matter most to the trading community. 🗣️ From Around-the-Clock Trading to Lit and Dark Markets, Digital Assets in Transition, Architecting for Volatility and The Impact of AI on Buy-Side Trading Efficiency, the agenda is packed with timely insights and dynamic discussions designed to foster meaningful dialogue around industry best practices and the latest innovations in trading technologies. 👏 A huge thank you to our sponsors and trade associations for their continued collaboration and support in shaping the conversation around the future of trading in the region: Iress, Broadridge, SS&C Technologies, Linedata, FIA, Inc. SIFMA 𝗩𝗶𝗲𝘄 𝘁𝗵𝗲 𝗮𝗴𝗲𝗻𝗱𝗮 𝗵𝗲𝗿𝗲: https://lnkd.in/eb5DrbV2 𝗕𝗼𝗼𝗸 𝘆𝗼𝘂𝗿 𝘁𝗶𝗰𝗸𝗲𝘁 𝗵𝗲𝗿𝗲: https://lnkd.in/em_7EmsF #FIXEvents #FIXTradingCommunity #FIXAmericas #MarketStructure #ElectronicTrading #AIinFinance #DigitalAssets #FinTechInnovation #Liquidity #ResilientMarkets

Join us on 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟯𝟬𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮5 — A full day of ideas, insights, and innovation shaping the markets of tomorrow 📍 @𝗘𝗮𝘀𝗲 𝟲𝟬𝟱, 𝟲𝟬𝟱 𝗧𝗵𝗶𝗿𝗱 𝗔𝘃𝗲𝗻𝘂𝗲, 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸, 𝗡𝗬 🕘 𝟵:𝟬𝟬 𝗔𝗠 – 𝟲:𝟯𝟬 𝗣𝗠 𝗘𝗗𝗧 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/dDmSZdb5 #FIXEvents #FIXTradingCommunity #FIXAmericas #Resilience #Scalability #MarketVolatility Scott Charity Scott Govoni Emiko Kamoda Jim Kaye Steven J. Kelly, CFA Nick Platts Lee E. Saba Laura Ponder Lou Rosato George Rosenberger Bethan Pharoah Natasja Haig Sinead van den Berg Yuhang Wang

Join us on 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟯𝟬𝘁𝗵 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱 — Join the conversations driving the evolution of global market structure. 📍 @𝗘𝗮𝘀𝗲 𝟲𝟬𝟱, 𝟲𝟬𝟱 𝗧𝗵𝗶𝗿𝗱 𝗔𝘃𝗲𝗻𝘂𝗲, 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸, 𝗡𝗬 🕘 𝟵:𝟬𝟬 𝗔𝗠 – 𝟲:𝟯𝟬 𝗣𝗠 𝗘𝗗𝗧 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/dDmSZdb5 #FIXEvents #FIXTradingCommunity #FIXAmericas #24x5Trading #ElectronicTrading Scott Charity Scott Govoni Emiko Kamoda Jim Kaye Steven J. Kelly, CFA Nick Platts Laura Ponder Lee E. Saba Lou Rosato George Rosenberger Bethan Pharoah Natasja Haig Sinead van den Berg Yuhang Wang

Join us on October 30th for the 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱 — a day packed with ideas, perspectives, and conversations driving the next wave of electronic trading. 📍 @Ease 605, 605 Third Avenue, New York, NY 🕘 9:00 AM – 6:30 PM EDT 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/dDmSZdb5 #FIXEvents #FIXTradingCommunity #FIXAmericas #DigitalAssets Scott Charity Scott Govoni Emiko Kamoda Jim Kaye Steven J. Kelly, CFA Nick Platts Laura Ponder Lee E. Saba Lou Rosato George Rosenberger Bethan Pharoah Natasja Haig Sinead van den Berg Yuhang Wang

Join us on October 30th for the 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱 — a full day of insights, debate, and networking with leaders shaping the future of electronic trading. 📍 @Ease 605, 605 Third Avenue, New York, NY 🕘 9:00 AM – 6:30 PM EDT 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄: https://lnkd.in/dDmSZdb5 #FIXEvents #FIXTradingCommunity #FIXAmericas #AIinFinance Scott Govoni Scott Charity Emiko Kamoda Steven J. Kelly, CFA Nick Platts Jim Kaye Laura Ponder Lee E. Saba Lou Rosato George Rosenberger Bethan Pharoah Natasja Haig Sinead van den Berg