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FIX Pilot project is introduced by Chris Morstatt and Robert Lamourex. Feeling the necessity of standardizing a rapid-expanding trading electronic communication, Fidelity and Salomon Brothers start working together to improve trade messaging in the global equity markets.
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Once the pilot was completed, Salomon Brothers and Fidelity organized a U.S. based FIX Committee, which contained some of Wall Street's major names. The committee held its first meeting in June of 1994. The committee held monthly meetings with each firm working toward a production version of the Protocol.
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In January 1995, FIX version 2.7 was released to the financial community. The only supported asset class at the time was Equities. As interest in the Protocol gained momentum, the U.S. Committee created a FIX Technical Committee to answer questions, add information and anticipate changes to the Protocol.
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From theinitial technical committee came the release of FIX 3.0 in September 1995. The protocol still only supports equities.
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An european FIX committee is formed in 1996.
The protocol still only support equities. The industry receives the new standard really well and makes the decision to keep expanding it. -
After 2 years of development and a lot of testing, FIX finally steps forward to support derivatives. At the same time, a Japanese Tokyo-based committee is formed by the major playes in the region.
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A new major enhancement is finally released in the year 2K.
FIX adds another asset class to their protocol, FX.
Now FIX supports not only equities but Futures and FX. -
