SWIFT Launches Fixed-Income Pilot for FIX 4.4
Financial messaging network SWIFT has announced that it will launch a fixed-income pilot programme for users of the new FIX version 4.4. Aimed at facilitating market adoption of FIX 4.4 for fixed-income, the pilot programme will be conducted using SWIFTNet FIX, powered by Financial Fusion, and is open to new participants of the messaging service as well as to current SWIFTNet FIX subscribers. FIX 4.4 is the latest version of the Financial Information eXchange protocol, providing a number of enhancements including support for communicating information about fixed-income trading. SWIFT will begin implementation for pilot participants during the third quarter of this year, with pilot testing scheduled to commence in first quarter 2004. As part of the programme, participants will test their implementation of FIX 4.4 with SWIFT’s test facilities as well as with other participants of the programme. According to SWIFT, the goal of the pilot programme is to facilitate best practice implementation of FIX 4.4; consequently, implementation and the service itself will be free of charge for participants.