FIX：金融信息交换(Financial Information eXchange, FIX)协议是专门针对证券交易的实时电子交换开发的信息传递格式。
FIX: the Financial Information exchange (FIX) protocol is a messaging format developed specifically for the real-time electronic exchange of securities transactions.
合理的透明度可以优化市场中相关信息的传递方式，并改善交易者的信息结构，有利于证券形成更加合理的价格，并进而提高市场的整体质量。
A reasonable transparency can optimize the information diffusing and improve the information structure so that leads to more reasonable stocks prices and a better market quality.
以电子形式存在的证券在计算机网络上进行传递和交易即是我们所称的网络证券。
Securities existed in electronic forms transmit and transact on the network that is what we call the Internet securities.
证券信息传导机制的有效性就是上市公司披露的证券信息能否充分地在股票价格的波动中得到反映，一般包括证券信息传递、信息运用和信息反馈三个阶段。
The latter calls for the plenitudinous reflection of the given securities information in course of fluctuation of stock prices, which comprises conduction, use and feedback of securities information.
证券信息传导机制的有效性就是上市公司披露的证券信息能否充分地在股票价格的波动中得到反映，一般包括证券信息传递、信息运用和信息反馈三个阶段。
The latter calls for the plenitudinous reflection of the given securities information in course of fluctuation of stock prices, which comprises conduction, use and feedback of securities information.
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