Financial Information Exchange

The FLX (Financial Information Exchange) is the vendor-neutral standardized messaging setup. It is protocol meant for describing the real-time transactions pertaining to securities.  The FIX Protocol Ltd. is the owner of this public-domain specification.

Mainly this protocol supports the below mentioned conversations between financial institutions and brokerage houses.

Equity Execution Reports
Equity Order Bookings
Equity Order status
Indication of interest communication
Equity Trade Allocation
News and email messaging

In some ways, FIX is also similar to OFX wherein the two protocols are used to communicate the financial information.

But OFX focuses much on the micro/retail transactions being a query-response protocol. This is alike HTTP whereas FIX session based protocol focuses the business transaction taking place amongst the institutes.