FIX Landscape in Korea - Plus Concepts

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FIX Landscape in Korea - Plus Concepts

FIX Landscape in Korea2011. 11. 25비젼정보기술(VITCOM)


TsunamisWhen?Financial Investment Servicesand Capital MarketAct.(FSCMA)ATSIB2013.09EXTURE+SOR / DarkPool BEST EXECUTIONInternalizationFIX/FAST Co-location DMAPremium ServiceWorld class Low-Latency(5ms→70μs)2012.03New Market Information SystemSpeed-up(20~60ms→ Avg. 9ms)


AGONIESLow-LatencyCo-LocationDMASORAlgo. . . .FIX/FASTMoneyRules ChangeOrder TypePremium ServiceBest ExecutionFairness. . . . .


▶ Meaning“Learn new Global language and Compete with Big ForeignCompetitors Be Strong!”▶ Sell side is aware of the FIX60 FIX Users / 62 (97%)▶ Buy side is increasing67 FIX Users / 240 (27%)▶ G-FIX > K-FIXFIX / FAST


▶ Concerns- Speed- Application Change- Entry Barrier▶ Situation of each partyLocal MembersAPIKRXFIX/FASTForeign MembersFIX + API


Bottom Line▶ Low Latency Solution Must be adopted▶ Below System Must be Changed to adopt FIX/FAST at LeastMarket DataFeed HandlerOrder MgmtSystemOrderFEP


Schedule of KRX2011Q42012Q1 Q2 Q3 Q42013Q1 Q2 Q3 Q43(Mar.)New Market Info. System Open3(Mar.)EXTURE+ Test Start9(Sep.)“15months left for Test“EXTURE+ Open


When? FSCMA2013.09 EXTURE+2012.03 New Market Information System“FIX member canhelp you to enjoythe Big Wave”

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