We walk through a diagram from the FIX Trading Community, looking at the 4 layers:
- Application – a collection of messages constructed from tags from FIX 4.2, FIX 4.4 or FIX Latest.
- Encoding – how the tags and values are assembled into a payload on the wire.
- Session – how FIX sessions are created and maintained.
- Transport – how messages physically move from one party to another.
By understanding these layers, we hope to broaden your horizon and let you identify opportunities to quickly re-use existing FIX constructs in your firm rather than re-inventing the wheel.
For example, could you use FIX JSON to represent objects internally within your system rather than something custom?
Diagram credit: https://www.fixtrading.org