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What will be the cost of modifying my infrastructure to enable FIX communications, and what are the incremental support costs?

April 26, 2017communications COST costs enable Fix incremental INFRASTRUCTURE modifying support

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What will be the cost of modifying my infrastructure to enable FIX communications, and what are the incremental support costs?

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This depends on factors such as (i) whether you presently have any FIX capabilities at all, (ii) already use FIX for stock trading, (iii) wish to have a unified FIX capability for multiple asset classes or else to have separate FIX capabilities for each asset class, (iv) prefer to build or buy your own FIX engine, or (v) choose to subscribe to a FIX network or message hub. Costs estimates from several vendors begin as low as $5,000 and move up the price range based on architecture and design requirements. Your preferences with respect to front-end applications will also affect costs. If you do not already have an order management system (“OMS”), for example, you may wish to buy or build one. Alternatively, several vendors provide inexpensive solutions for FIX-enabling your Excel spreadsheets.