FIX engine
Quick definition
A FIX engine refers to a messaging library that implements the FIX protocol. In other words, it facilitates session management, connection, and the encoding and decoding of messages according to the FIX protocol. Also sometimes called a FIX framework.
What is FIX engine?
A FIX engine or framework essentially makes it easier for one to integrate multiple trading venues or broker-dealer counterparties that use FIX, providing simpler abstractions for lower-level functions like session creation, connection handling, message parsing, message validation, and logging.
Popular open source FIX engines include Fix8 and QuickFIX. Multiple versions of QuickFIX exist for different programming languages, such as QuickFIX/C++, QuickFIX/J, QuickFIX/Go.
Paid, commercial FIX engines also exist, usually touting better performance than open source FIX engines. As of 2024, popular vendors that provide FIX engines include OnixS, Broadridge, B2BITS, and Rapid Addition.
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