FIX Protocol
The Financial Information eXchange (FIX) Protocol is a messaging standard developed specifically for the real-time electronic exchange of securities transactions.
FIX Engine
The FIX engine once connected to a trading or order management system is the interface which, together with a network, connects you to outside world and allows you to trade and exchange related information in a standard fashion.
Order Management System (OMS)
An OMS facilitates and manages the order execution of securities, typically through the FIX protocol. An OMS encompasses five components: connectivity to a broker or market, typically using FIX messaging, trading blotter, post-trade support, compliance and portfolio modelling.
Direct Market Access (DMA)
DMA tools permit buy-side traders to access liquidity pools and multiple execution venues directly, without intervention from a broker's trading desk.