Acceptor

Session in the role of an acceptor is the receiving party of the FIX session. It listens to the incoming connection on the pre-defined port. The acceptor has the responsibility to perform the first level authentication and formally declares the connection request, "accepted" through the transmission of an acknowledgment Logon message.

Conditionally required fields

Fields, which are required, are based on the presence or value of other fields.

Delimiter character

The non-printing, ASCII "SOH" (\u0001, hex: 0x01, referred to this document as <SOH>), is used for field termination.

MsgSeqNum field

Integer message sequence number, the tag number is 34.

FIX

The Financial Information Exchange (FIX) Protocol is a message standard, developed to facilitate the electronic exchange of information that is related to securities transactions. It is intended for use between trading partners whose wish is to automate communications.

FIX Connection

It is comprised of three iterations: logon, message exchange, and logout.

FIX Dictionary

A customized, specialized or extended implementation of the base FIX protocol standards.

FIX Session

It is comprised of one or more FIX Connections, meaning that FIX Session spans multiple logins.

Initiator

Session Initiator establishes the telecommunications link and initiates the session via the transmission of the initial Logon message.

Required Fields

Each message within the FIX protocol is comprised of required, optional and conditionally required fields (fields which are required that are based on the presence or value of other fields). Systems should be designed to operate when only the required and conditionally required fields are present.

SenderCompID field

The assigned value is used to identify a firm sending message, its tag number is 49.

TargetCompID field

The assigned value is used to identify the receiving firm, the tag number is 56.

User-defined fields

These fields are intended to be implemented between consenting trading partners on bi or multilateral basis. They should be used with caution to avoid conflicts, which may arise if multiple parties implement the same field tags in different contexts. The tag numbers 5000 to 9999 have been reserved for them. These tags can be registered/reserved via the FIX web site.

User-defined messages

Messages of those formats are privately defined between the sender and the receiver. A "U" as the first character in the MsgType field (i.e. U1, U2, etc) indicates such messages.