FIX protocol and fix messaging interview questions

FIX (financial information exchange)  protocol is the global protocol used for Electronic trading of different asset classes e.g Equity, Fixed Income FX (foreign exchange) , Derivatives Futures and Options and its knowledge is essential to understand Electronic trading and FIX messages. I have listed some of the very common but informative questions asked in fix protocol interview question, this list is by no means complete and only contains questions on top of my mind, I would encourage reader to post any question they have been asked and I will include in this list, Please feel free to ask any other question related to FIX (financial information exchange) protocol I would be happy to answer those. FIX messaging is term used to describe communication using FIX protocol.


If you are java developer looking for FIX + Java jobs then having a look on these FIX (financial information exchange) protocol interview snippets can benefit you in interview. usually for a FIX (financial information exchange) protocol job interviewer test whether candidate has actually worked in FIX protocol or not and whether he is familiar with various FIX tags and different FIX protocol version or not. Since FIX (financial information exchange) versions differ significantly form one version to other knowledge of FIX tags and there value for a particular version is very important.  There are lots of jobs available for Core Java and FIX (financial information exchange)  protocol developer even if you had worked in FIX for 1 year you could be very much sought after in job market.



 FIX (financial information exchange) protocol interview questions



What is the difference between ClOrdID and OrderID?
In FIX (financial information exchange) protocol ClOrdId is a unique id assigned by buy-side while the later is assigned by sell-side. OrderID normally remains same for a message chain (e.g. on Cancel and mod orders) while ClOrdID changes with Cancel and Modification.


What is difference between TransactTime and Sending Time?
TransactTime: Time of execution/order creation (expressed in UTC (Universal Time Coordinated, also known as 'GMT')
SendingTime: Time of message transmission (always expressed in UTC (Universal Time Coordinated, also known as 'GMT')