Sell-side banks have started a working group to promote the use of FIX connectivity for fixed income trading, Finextra reports. Banks will work with ECNs, exchanges and ISVs to push the global use of FIX and other industry standards, which will cut technology costs, allow faster and easier connectivity integration between market players and provide greater vendor choice and technical flexibility.

The working group consists of BofA Merrill Lynch, Barclays Capital, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan Chase, Morgan Stanley, RBS, Société Générale and UBS. ETrading Software and Expand Research are also supporting the group.

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