Mon, 30 Jan 2012 04:16:30 GMT - High Frequency Trading Review
A key industry group is looking to expand the amount of information included in trade confirmations, giving the buyside greater detail about their trades—and increasing transparency in the marketplace.
The FIX Protocol Ltd. Americas buyside working group has been trying to amend FIX Protocol to make it easier to track orders. It is currently considering the adoption of new FIX tags later this year, probably sometime after second quarter.
Many on the buyside have been looking for greater transparency about where their orders are routed and where they eventually get executed. This stems from worries that orders might get gamed by predatory traders. The thinking is that if the buyside has a better accounting of where their orders go, they could avoid toxic venues.
