Have you ever had to search through a text based FIX log file to try and find all the FIX messages associated with a particular order? If you have you will understand the frustration that this can cause. There is no single identifier that links all the FIX messages for a particular order.
Often when looking through a log file, you can search for a ClOrdID, this will give you the New Order…
The problem
With more business going through electronic channels it’s becoming increasingly important to have an effective means of monitoring traffic through your FIX environment. This could be to ensure session uptime, to weed out badly formatted messages, to find potential delays in message transmission or just to have a better view of your FIX environment.
Relying on business users…