OCC duo co-chair FIX Trading Community Securities Lending Group
30 January 2019 Chicago
Image: Shutterstock
OCC's Harsh Devpura and Matt Wolfe are now co-chairs of the new FIX Trading Community Securities Lending Group.
The new group aims to define a standardised messaging protocol for securities finance.
The OCC has contacted international central counterparties (CCPs), firms, and vendors supporting stock loans as well as the full FIX Trading Community to form a working group to develop a set of FIXML and International Organization for Standardization (ISO) messages. FIXML is the XML encoding used within FIX.
According to the OCC, these FIXML and ISO messages will help improve communication within and across developed markets and will also provide a template for emerging markets.
Wolfe is vice president of new products and Devpura is senior business systems analyst at OCC.
Commenting on the launch of the new group, Wolfe said: “OCC has always been a supporter of global standards and has enjoyed collaborating with the industry and the FIX trading community on FIXML standards for options and futures.”
He added: “We believe the time is right to improve upon the messaging standards for securities finance and we welcome anyone that is interested in contributing to this effort to join our working group via www.fixtrading.org.”
“Our goal is to improve securities financing markets, both within the US where OCC is the largest CCP for clearing stock loans, as well as around the world.”
The new group aims to define a standardised messaging protocol for securities finance.
The OCC has contacted international central counterparties (CCPs), firms, and vendors supporting stock loans as well as the full FIX Trading Community to form a working group to develop a set of FIXML and International Organization for Standardization (ISO) messages. FIXML is the XML encoding used within FIX.
According to the OCC, these FIXML and ISO messages will help improve communication within and across developed markets and will also provide a template for emerging markets.
Wolfe is vice president of new products and Devpura is senior business systems analyst at OCC.
Commenting on the launch of the new group, Wolfe said: “OCC has always been a supporter of global standards and has enjoyed collaborating with the industry and the FIX trading community on FIXML standards for options and futures.”
He added: “We believe the time is right to improve upon the messaging standards for securities finance and we welcome anyone that is interested in contributing to this effort to join our working group via www.fixtrading.org.”
“Our goal is to improve securities financing markets, both within the US where OCC is the largest CCP for clearing stock loans, as well as around the world.”
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