Trading venues, broker-dealers back effort to create FIX standard

ICAP, Market Axess, Tullett Prebon, Tradition and other trading venues have joined broker-dealers such as Deutsche Bank, Barclays and JPMorgan Chase in supporting the establishment of a standard for trading credit default swaps and interest-rate swaps. The standard would be based on the Financial Information Exchange protocol. "Standardization of protocols in the trading landscape helps to promulgate an orderly and fair market access and is another demonstration of the fast response of trading venues and market participants to the mandate of our regulators and the need of our industry," said Yann L'Huillier of Tradition.

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