IFIX: NEW INFORMATION EXCHANGE FRAMEWORK FOR FINANCIAL ORGANIZATIONS

Abstract

At present, information exchanges between systems are significantly important since the system is used more than the past. In spite of the fact that there is a standard Financial Information Exchange System, called as FIX, is executed around the securities organizations. This dissertation proposes a new architecture to forward request and the data securities trade design based on the FIXML. This new proposed framework acts as another interface of FIX System, named as IFIX. This IFIX focuses on trading of securities and forwarding information which supports brokers to perform their tasks. As a result, the reduction of the trading and forwarding messages is obtained. In order to develop the IFIX, the specifications of IFIX are defined from analyzing the users’ information; this information is gathered from interviewing, meeting, and training users. After designing and developing IFIX, the evaluation process has been performed by questionnaire asking 3 experts and 20 users. Then, statistical analysis using SPSSv22 is executed. The result of data analysis indicates that the average of satisfaction scores on the IFIX from experts is very good. Furthermore, the characteristics of majority users of the IFIX obtained from the questionnaire are people with aging between 30 – 40 years, experienced more than 10 years, and their education level is the bachelor degree. This majority group also agrees that the IFIX can generally serve their needs very good.