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Financial Information EXchange
The Financial Information eXchange (FIX) protocol is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to securities transactions and markets. With trillions of dollars traded annually on the NASDAQ alone, financial service entities are employing direct market access (DMA) to increase their speed to financial markets. Managing the delivery of trading applications and keeping latency low increasingly requires an understanding of the FIX protocol. History The FIX protocol specification was originally authored in 1992 by Robert "Bob" Lamoureux and Chris Morstatt to enable electronic communication of equity trading data between Fidelity Investments and Salomon Brothers. FIX initially addressed information between broker-dealers and their institutional clients. At the time, this information was communicated verbally over the telephone. Fidelity realized that information from their broker-dealers could be routed to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Communications Protocol
A communication protocol is a system of rules that allows two or more entities of a communications system to transmit information via any kind of variation of a physical quantity. The protocol defines the rules, syntax, semantics and synchronization of communication and possible error recovery methods. Protocols may be implemented by hardware, software, or a combination of both. Communicating systems use well-defined formats for exchanging various messages. Each message has an exact meaning intended to elicit a response from a range of possible responses pre-determined for that particular situation. The specified behavior is typically independent of how it is to be implemented. Communication protocols have to be agreed upon by the parties involved. To reach an agreement, a protocol may be developed into a technical standard. A programming language describes the same for computations, so there is a close analogy between protocols and programming languages: ''protocols ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic trading platform. To be able to trade a security on a certain stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as modern markets use electronic communic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google Protocol Buffers
Protocol Buffers (Protobuf) is a free and open-source cross-platform data format used to serialize structured data. It is useful in developing programs to communicate with each other over a network or for storing data. The method involves an interface description language that describes the structure of some data and a program that generates source code from that description for generating or parsing a stream of bytes that represents the structured data. Overview Google developed Protocol Buffers for internal use and provided a code generator for multiple languages under an open-source license (see below). The design goals for Protocol Buffers emphasized simplicity and performance. In particular, it was designed to be smaller and faster than XML. Protocol Buffers are widely used at Google for storing and interchanging all kinds of structured information. The method serves as a basis for a custom remote procedure call (RPC) system that is used for nearly all inter-machine c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Out-of-band Data
In computer networking, out-of-band data is the data transferred through a stream that is independent from the main ''in-band'' data stream. An out-of-band data mechanism provides a conceptually independent channel, which allows any data sent via that mechanism to be kept separate from in-band data. The out-of-band data mechanism should be provided as an inherent characteristic of the data channel and transmission protocol, rather than requiring a separate channel and endpoints to be established. The term "out-of-band data" probably derives from out-of-band signaling, as used in the telecommunications industry. Example case Consider a networking application that tunnels data from a remote data source to a remote destination. The data being tunneled may consist of any bit patterns. The sending end of the tunnel may at times have conditions that it needs to notify the receiving end about. However, it cannot simply insert a message to the receiving end because that end will not be a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modulo Operation
In computing, the modulo operation returns the remainder or signed remainder of a division, after one number is divided by another (called the '' modulus'' of the operation). Given two positive numbers and , modulo (often abbreviated as ) is the remainder of the Euclidean division of by , where is the dividend and is the divisor. For example, the expression "5 mod 2" would evaluate to 1, because 5 divided by 2 has a quotient of 2 and a remainder of 1, while "9 mod 3" would evaluate to 0, because 9 divided by 3 has a quotient of 3 and a remainder of 0; there is nothing to subtract from 9 after multiplying 3 times 3. Although typically performed with and both being integers, many computing systems now allow other types of numeric operands. The range of values for an integer modulo operation of is 0 to inclusive ( mod 1 is always 0; is undefined, possibly resulting in a division by zero error in some programming languages). See Modular arithmetic for an older and related c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Checksum
A checksum is a small-sized block of data derived from another block of digital data for the purpose of detecting errors that may have been introduced during its transmission or storage. By themselves, checksums are often used to verify data integrity but are not relied upon to verify data authenticity. The procedure which generates this checksum is called a checksum function or checksum algorithm. Depending on its design goals, a good checksum algorithm usually outputs a significantly different value, even for small changes made to the input. This is especially true of cryptographic hash functions, which may be used to detect many data corruption errors and verify overall data integrity; if the computed checksum for the current data input matches the stored value of a previously computed checksum, there is a very high probability the data has not been accidentally altered or corrupted. Checksum functions are related to hash functions, fingerprints, randomization functions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
C0 And C1 Control Codes
The C0 and C1 control code or control character sets define control codes for use in text by computer systems that use ASCII and derivatives of ASCII. The codes represent additional information about the text, such as the position of a cursor, an instruction to start a new line, or a message that the text has been received. C0 codes are the range 00 HEX–1FHEX and the default C0 set was originally defined in ISO 646 (ASCII). C1 codes are the range 80HEX–9FHEX and the default C1 set was originally defined in ECMA-48 (harmonized later with ISO 6429). The ISO/IEC 2022 system of specifying control and graphic characters allows other C0 and C1 sets to be available for specialized applications, but they are rarely used. C0 controls ASCII defined 32 control characters, plus a necessary extra character for the DEL character, 7FHEX or 01111111BIN (needed to punch out all the holes on a paper tape and erase it). This large number of codes was desirable at the time, as multi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASCII
ASCII ( ), abbreviated from American Standard Code for Information Interchange, is a character encoding standard for electronic communication. ASCII codes represent text in computers, telecommunications equipment, and other devices. Because of technical limitations of computer systems at the time it was invented, ASCII has just 128 code points, of which only 95 are , which severely limited its scope. All modern computer systems instead use Unicode, which has millions of code points, but the first 128 of these are the same as the ASCII set. The Internet Assigned Numbers Authority (IANA) prefers the name US-ASCII for this character encoding. ASCII is one of the List of IEEE milestones, IEEE milestones. Overview ASCII was developed from telegraph code. Its first commercial use was as a seven-bit teleprinter code promoted by Bell data services. Work on the ASCII standard began in May 1961, with the first meeting of the American Standards Association's (ASA) (now the American Nat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Presentation Layer
In the seven-layer OSI model of computer networking, the presentation layer is layer 6 and serves as the data translator for the computer network, network. It is sometimes called the syntax layer. Description Within the service layering semantics of the OSI network architecture, the presentation layer responds to service requests from the application layer and issues service requests to the session layer through a unique presentation service access point (PSAP). The presentation layer ensures the information that the application layer of one system sends out is readable by the application layer of another system. On the sending system it is responsible for conversion to standard, transmittable formats. On the receiving system it is responsible for the translation, formatting, and delivery of information for processing or display. http://www.linfo.org/presentation_layer.html Linux Information Project In theory, it relieves application layer protocols of concern regarding syntacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Block Trade
A block trade is a high-volume transaction in a security that is privately negotiated and executed outside of the open market for that security. Major broker-dealers often provide "block trading" services—sometimes known as "upstairs trading desks"—to their institutional clients. In the United States and Canada a block trade is usually at least 10,000 shares of a stock or $100,000 of bonds but in practice significantly larger. For instance, a hedge fund holds a large position in Company X and would like to sell it completely. If this were put into the market as a large sell order, the price would sharply drop. By definition, the stake was large enough to affect supply and demand causing a market impact. Instead, the fund may arrange for a block trade with another company through an investment bank, benefiting both parties: the selling fund gets a more attractive purchase price, while the purchasing company can negotiate a discount off the market rates. Unlike large public offe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Back Office
A back office in most corporations is where work that supports ''front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and clients. The back office is all the resources of the company that are devoted to actually producing a product or service such as data entry, payroll, accounting and all the other labor that is not seen by customers, such as administration or logistics. Broadly speaking, back office work includes roles that affect the costs side of a business's trading statement and front office work includes roles that affect the income side of a business's trading statement. Although the operations of a back office are seldom prominent, they are a major contributor to a business's success. They can include functions such as accounting, planning, inventory management, supply-chain management, human resources and logistics. Back offices are often located somew ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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