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Crypto Exchange Institutional Features — Prime Brokerage and API Trading
Crypto Exchange Institutional Features — Prime Brokerage and API Trading
- FIX Protocol Integration: Institutional traders and prime brokers require features that retail exchanges do not offer: FIX protocol API, sub-account management, portfolio margin, and direct market access. FIX (Financial Information eXchange) is the industry standard protocol for institutional order management systems (OMS). Every major institut...
- FIX Session Architecture: OMS (Institutional Trader) → FIX Gateway (TCP connection, persistent session) → Exchange FIX Engine (validates, normalizes FIX messages) → Internal API (translates to exchange's order format) → Matching Engine → FIX Drop Copy (execution reports back to OMS)