FIX Algorithmic Trading Definition Language (FIXatdlSM) Presentation to the GTC Feb 5, 2010

Copyright (c) FIX Protocol Ltd. Agenda FIXatdl – a brief overview and key benefits FIXatdl 1.0 to now (FIXatdl 1.1) FIXatdl 1.1 Key enhancements Normative Specification (Artifacts) Overall structure GUI Widget library Timeline and next steps Screen Shots of actual FIXatdl implementations Q&A Live Demos as time permits 4/14/2017 Copyright (c) FIX Protocol Ltd.

Broker FIX Specification Introducing FIXatdlSM: FIX Protocol standard XML mark-up language used to define the interface for an algorithmic order Broker FIX Specification FIXatdl XML File + Strategy FIXatdl Schema Broker creates a FIXatdl XML file describing its algorithms, parameters, FIX tag mappings, validation rules, and how the algorithms should be rendered in any 3rd party application OMS vendors parse these FIXatdl XML files & render them in their application eliminating the need for custom programming 4/14/2017 Copyright (c) FIX Protocol Ltd.

Advantages of Dynamic Rendering with FIXatdl Less Ambiguity Contents/knowledge of specification file replaced by FIXatdl file Definitions of parameters, rules and GUI layouts are standardized Language is easy to read and understand XML Files are Machine Readable! OMS parses XML files on-the-fly and renders appropriate images on the screen XML file tells OMS which tag numbers to use Algorithms can be added or changed without custom programming Reduced need for QA and Certification Testing An OMS supporting FIXatdl can accept any FIXatdl-based XML file Analogy – FIXatdl : OMS ≈ HTML : WebBrowser End Result: Faster time-to-market for algo provider with less effort 4/14/2017 Copyright (c) FIX Protocol Ltd.

FIXatdl 1.0 to now (FIXatdl 1.1) “The beginning” Started with OMS vendor input (5 in-depth interviews), initial schema created 15 major brokers published XML file samples FIXatdl 1.0 Released - March 2008 Brokers published XML files but no parsers/renders available to implement/test OMS vendors identified additional needs Identified numerous gaps and enhancements needed to actually use it Hamstrung by “data contract” too tightly coupled to “GUI” FIXatdl 1.1 Development Decoupled “data contract” (Parameter) from GUI widget (Control) Enhanced GUI Library (generic, cross-platform functional description of control) Better aligned FIXatdl XML with FPL XML standards (Sexton report) Iterative feedback and continued implementation process, weekly WG meetings Developed “narrative documentation” (spec) in conjunction with XML Schema Finalized schema and narrative documentation – submitting for approval/release 4/14/2017 Copyright (c) FIX Protocol Ltd.

FIXatdl 1.1 - Key Enhancements Division of data contract from GUI (Parameter vs. Control) Control@parameterRef, Parameter@wireValue, etc Parameter@enumID <-> Control’s ListItem@enumID Specifying GUI details (Layout) is now entirely optional Parameters can be validated at Strategy-level (StrategyEdit) Created FLOW to handle workflow and basic GUI event handling Control’s visible, enabled, and value can be rule driven (StateRule) Support nested/cascading rules (StrategyEdit and StateRule) Strategy filtering enhanced (Regions/Country, SecurityTypes, Markets) Explicit support for multi-language features via UTF-8 Support for New Order List and New Order Multileg Enhanced GUI Library (generic, cross-platform description of widgets) 4/14/2017 Copyright (c) FIX Protocol Ltd.

FIXatdl 1.1 – Normative Specification (Artifacts) Jim Northey: The combination of the FIXatdl narrative specification document and the FIXatdl XML Schema files represent the FIXatdl normative specification. Other documents are suggested, such as user's guides, implementation guides, how-to's, but these are not part of the officially approved normative specification." The normative specification should focus on trying to in as unambiguously as possible and as formally as possible terms define "What is". The "how to" should be kept outside the normative specification. Narrative specification document Word-authored document (spec) for the FIXatdl XML Schema XML Schema files atdl-core-1-1.xsd Data: describes the data content of the algorithm and the parameters atdl-flow-1-1.xsd Data: used to author rules applied to the parameter values as a validation check atdl-layout-1-1.xsd GUI: XML constructs describing how a parameter should be rendered within a UI atdl-validation-1-1.xsd GUI: provides the ability to dynamically affect the behavior of a GUI control Support lists (atdl-regions-1-1.xsd, atdl-timezones-1-1.xsd) Sample XML file 4/14/2017 Copyright (c) FIX Protocol Ltd.

FIXatdl 1.1 – Overall Structure 4/14/2017 Copyright (c) FIX Protocol Ltd.

FIXatdl 1.1 – GUI Widget Library Clock RadioButton EditableDropDownList RadioButtonList TextField SingleSpinner DropDownList SingleSelectList DoubleSpinner Slider MultiSelectList CheckBox CheckBoxList Label 4/14/2017 Copyright (c) FIX Protocol Ltd.

Timeline and Next Steps FPL’s Target of launch at beginning March: Friday Feb 5 - Presentation to GTC If approved, Public Comment Period - One Week Comments received and any necessary changes proposed by the WG Reviewed by the GTC Governance Board (expeditiously) GTC Governance Board voting - no more than one week Proposed public launch event (in person media conference run by Daniella Baker) Mar 23 at the FPL EMEA Conference in London Ongoing management Using FPL’s JIRA system to track issues and enhancements Using FPL’s Central Desktop system to manage milestones/tasks Coordinating launch and roll-out plan with FPL’s marketing and management teams 4/14/2017 Copyright (c) FIX Protocol Ltd.

Screen Shots of actual FIXatdl implementations Portware Townsend RealTick Rapid Addition Ullink Nomura / atdl4j 4/14/2017 Copyright (c) FIX Protocol Ltd.

Copyright (c) FIX Protocol Ltd. Q&A / Demos http://fixprotocol.org/FIXatdl 4/14/2017 Copyright (c) FIX Protocol Ltd.