What is FIXatdl?
It's a standard for the exchange of meta-information that's needed to enable algorithmic trading activity in the financial markets. The acronym stands for FIX Algorithmic Trading Definition Language. It works in conjunction with the Financial Information eXchange (FIX) protocol - the common language of electronic trading in the securities market.
Where have you heard about FIXatdl?
FIXatdl Version 1.1 was approved on March 3, 2010. The specification was formally introduced to the market at the FPL’s Europe Middle East and Africa conference on March 23, 2010. It's not widely known outside the financial markets.
What you need to know about FIXatdl.
The FIX protocol is used to communicate between sell-side and the buy-side Order Management Systems to exchange orders and order execution information without human intervention, using standardised messages and workflows defined by the protocol.
FIXatdl is built on top of the widely adopted FIX protocol and enables firms receiving orders to specify exactly how their electronic orders should be expressed. Orders built using FIXatdl can then be transmitted from traders' systems via the FIX Protocol. All versions of the underlying FIX Protocol are fully supported, and no changes to underlying FIX infrastructure are necessary.