Global technology consultancy DataArt announced today that it has joined the FIX Trading Community, the non-profit industry-driven standards body at the heart of global financial trading.

The Financial Information eXchange (FIX®) Trading Community was established to maintain and support the FIX Protocol – the free and open messaging standard used by exchanges, investment banks, mutual funds, brokerages, fixed income and over-the-counter (OTC) platforms. The FIX Protocol is used in approximately 90% of global trading, counting millions of daily transactions worth hundreds of billions USD. The FIX Protocol has also been adopted for post-trade activities such as trade affirmation and confirmation.

DataArt has 20 years of experience in bespoke system development in the financial services and capital markets, and has accumulated extensive FIX Protocol expertise through client projects. The consultancy joins the FIX Trading Community to advance the business and technical discussion, and to contribute to the development of the protocol in the changing regulatory and technological environment. DataArt’s team will participate in working groups and take part in FIX Trading Community conferences. A particular interest of DataArt is in digital currency and blockchain working groups. In this area, the consultancy is anticipating synergies with its own blockchain initiative and distributed ledger projects currently in production.

Toby Bryans, Principal Consultant, Finance Practice, said: “It is a tremendous opportunity for us to be a member of this unique platform for professional interaction and engagement. We are particularly excited to join the working groups and committees dedicated to digital currency and blockchain; algorithmic and automated trading; cybersecurity; risk management and MiFID II.”

Sergey Kharchenko, Co-head, Trading Initiative, Finance Practice, said: “We have a number of initiatives that gather expertise in the areas of trading, blockchain, digitalization and data management. These are forums for subject matter experts in DataArt to discuss and research business and technology change, develop new ideas, and share them with our clients and teams. I look forward to our initiatives collaborating with the industry experts in the FIX Trading Community to help shape the future of trading.”

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