Committees
The FIX Trading Community is managed by its Global Steering Committee (GSC), made up of the co-chairs of the GSC's committees. These direct and oversee the community's work globally and are chaired by representatives of member firms.
It is through committees, subcommittees and working groups that the FIX Trading Community™ identifies the key business and regulatory challenges impacting the industry and develops market-led solutions to drive their resolution.
These groups of the FIX Trading Community (“FIX Groups”) are established to meet specific aims for the organisation and the initiatives it oversees. They focus on various capabilities, functions, geographies or have specific project emphasises for example exploring emerging industry trends or technologies.
FIX Groups offer a neutral industry forum encouraging open discussion and participation from all members.
Taking part delivers great value to the individuals and firms involved, enabling members to enhance their understanding of key issues, help shape outcomes, gain access to information in advance of the wider community, and benefit from significant relationship-building opportunities.
The Global Steering Committee (GSC) is responsible for directing and overseeing all work of the FIX Trading Community. It is made up of the leaders of each of the FIX Trading Community’s committees and reports to the FIX Protocol Ltd (FPL) board.
The core duties of the GSC are to ensure the continued development, maintenance and adoption of FIX's standards by setting an annual strategy for each of these, assigning work to its committees, and meeting regularly to review.
Co-chairs: Scott Charity (Berenberg), Lee Saba (Rialto Markets)
The product committees cover specific asset classes or areas of the trade lifecycle.
They are responsible for managing relationships with industry associations and regulators relevant to the committee’s scope, horizon-scanning for relevant industry news, developments and regulatory changes/consultations, managing all relevant initiatives and promoting and tracking adoption of deliverables from these initiatives.
The Digital Assets & Technology Committee covers trading and trade processing of digital assets, as well as the use of distributed ledger technology across all asset classes.
Its primary focus is to ensure that FIX's standards evolve to meeting the requirements of this area and help bring the 'TradFi' and 'DeFi' worlds together to aid understanding and adoption while minimising implementation complexity and cost.
Co-chairs: Vince Turcott (Apex Group), Duncan Trenholme (TP ICAP)
The FICC (Fixed Income, Currencies, Commodities) Committee is responsible for matters relating to fixed income, listed/OTC derivatives, commodities, energy trading and FX.
Co-chairs: Jay Hurley (State Street Bank and Trust), Vincent Grandjean (Propellant.digital)
The Equites Committee is responsible for matters relating to equities and related products (including ETFs and other fund products).
Co-Chairs: Irina Sonich-Bright (UBS), Jerry Avenell (Cboe), Justine Zou
The Global Post Trade Committee is responsible for matters relating to post-trade activities (e.g., middle and back office functions) as well as non-trade lifecycle areas such as repo and securities lending.
Co-Chair: Ignatius John (Broadridge)
The service committees undertake specific functions that support our membership and the other GSC committees, from member communication to marketing to standards development.
The Global Buy-Side Committee is responsible for engaging and growing the buy-side community within FIX and providing a channel for education and requirements-gathering to/from buy-side firms.
Co-Chairs: Brian Lees (Capital Group), Huw Gronow (BNY Investments Mellon)
The Global Marketing and Education Committee manages communications for the FIX Trading Community. It owns and oversees the execution of FIX's marketing & communications plans, manages the schedule of events and sets the commercial and content strategy for them.
Co-chairs: Scott Charity (Berenberg), Naomi Hoad (Broadridge)
The Global Technical Committee (GTC) manages FIX's business and technical standards, with the exception of MMT. This includes supporting other FIX committees and working groups where they impact or use FIX standards.
The GTC is the central point for maintenance and development of all FIX Standards and Recommended Practices, undertaking standards design and overseeing the development and review process. It also manages relationships with other standards bodies and relevant industry associations.
Co-chairs: Hanno Klein (Fixdom), Winter Chan (AIMS Financial)
The MMT Steering Committee manages the Market Model Typology data standard for post-trade flags. It oversees the MMT Technical Committee which maintains the standard and works with other FIX groups as required to develop changes.
Co-Chairs: Christiane Baumgarten (Deutsche Boerse), Anna Branch (Quilter)
The regional committees cover activities taking place within or impacting a specific geographical region.
Responsibilities include ensuring that in-region events are planned and managed (including setting agendas, managing speaker selection and event promotion), managing relationships with regional industry associations and regulators, horizon-scanning for relevant industry news, developments and regulatory changes/consultations, managing any region-specific initiatives and engaging and growing the regional member community.
They operate with a central steering committee and region/country-specific sub-committees.
The Americas Regional Committee covers membership and FIX Trading Community activities in the Americas.
Co-chairs: Emiko Kamoda (Goldman Sachs), George Rosenberger (Broadridge)
The Asia Pacific Regional Committee covers membership and FIX Trading Community activities in Asia (excluding Japan), Australia and New Zealand.
As well as regional subcommittees covering Australia, India and South East Asia, this committee has standing subcommittees covering education and marketing, market structure and regulation, technology and buy side requirements.
Co-Chairs: Ankit Mittal (BlackRock), Murrough O’Brien (Australian Securities Exchange)
The EMEA Committee covers membership and FIX Trading Community activities in Europe, the Middle East and Africa. It has regional subcommittees covering France, Germany, Africa and the Nordics.
Co-chairs: Rebecca Healey (Redcap Consulting), Matthew Coupe (Susquehanna)
The Japan Pacific Regional Committee covers membership and FIX Trading Community activities in Japan.
Co-chairs:Hiroshi Matsubara (Pine Grove Research), Mai Tanaka (Nomura Asset Management)
Participation in FIX Groups
Historically, committees, sub-committees and working groups have only been open to participants from FIX member firms, but non-member firms may be invited to participate as a way to pull in additional expertise from the industry. In order to protect the integrity and revenue of the FIX Trading Community the FIX Global Steering Committee has agreed to the following policy for sub-committee/working group participation from Non-Members:
Upon development of a new sub-committee or working group, participation will be open to members and non-members for the first 2 months or a maximum of 4 meetings, whichever occurs first.
At the end of the 2 month/4 meeting period all non-member participants will be removed from the groups, unless there is demonstrable proof that their firm is in the process of attaining membership.
Individual non-members can be invited to join a sub-committee or working group as either a guest or as a Subject Matter Expert for the duration of a working group’s activities. This invitation is personal and cannot be transferred to anyone else in their firm. These invitations are at the discretion of the co-chairs of the working groups and/or the Membership Manager.
Non-members, as well as membership debtors, will be notified prior to the end of the trial participation period. Membership information, applications and invoices will be disseminated in order to give them an opportunity to officially formalize their FIX Trading Community membership, before formally removing from a group.
Non-member firms will only be allowed to request participation in a new FIX sub-committee or working group, one time per calendar year.
Intellectual Property
If Members participate in a FIX Trading Community Committee, Subcommittee or Working Group, any IP created or generated through such participation is created for the benefit of the Committee, Subcommittee or Working Group, is created outside the general course of employment, and . Members will execute all documents and do all such acts as may be reasonably necessary to give effect to the terms of this clause, including after cessation of membership for any reason. All meetings are conducted under the Standardization IP Policy of FIX.
Competition Law Statement
FIX is committed to the full respect of all applicable laws, including competition law. It requires members and their representatives to observe a similar commitment. In participating in a FIX activity, each FIX member and its representatives must avoid any action, decision or agreement that is contrary to any applicable law, including competition law, or which might be seen as a failure to comply with any other applicable law.
FIX directs members and their representatives to read the FIX competition compliance policy.
This policy is applicable to all FIX activities, including meetings (e.g. of committees, working groups, technical groups, and sub-groups), social functions, and communication (whether by representatives of FIX or its members), representation at industry functions, use of the FIX website, consultation and guidance on market and regulatory developments and the collection and distribution of statistics and other information related to the industries and sectors in which it and its members operate.
Failure to adhere to these principles may result in a person being excluded from FIX or specific FIX activities, and/or in a report being made to the appropriate regulatory authority.