Gox platform and facilitate larger transaction sizes for better liquidity, maybe even adding forex trading APIs and FIX protocol support.

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Uppal had also planned to demonstrate a piece of spyware capable of monitoring information from programs that use the FIX protocol, or financial information exchange, to make high-speed trades.

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Although the FIX protocol was updated in the past year to free FIX apps from that session layer, he says, most of these apps are still running the FIX session layer.

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According to the FIX Protocol Website, 75 percent of buy-side and 80 percent of sell-side financial services firms use FIX for electronic trading, with both types of organizations planning to expand FIX, according to a survey taken by TowerGroup.

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In a Thursday afternoon presentation titled "Hacking Capitalism" at the Black Hat conference, a gathering of computer security experts, they detailed weaknesses in applications using Financial Information eXchange Protocol, or FIX, a common language used in communications between banks and commercial markets.

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The application-layer FIX (financial information exchange) protocol is used by financial services firms, stock exchanges, and investment banks for automated financial trading.

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