Tag

#Bridges & Aggregators

6articles

Where Did the Extra 0.3 Pips Come From? Auditing Silent Spread Markups End-to-End

Silent spread markups happen when multiple systems add “just a little” to the same quote. Here’s how brokers can trace every markup layer, prove the true all-in spread, and stop accidental double-charging.

May 6, 20267 min1,124

Thomas Mueller

From Best Price to Best Outcome: FIX-Powered Smart Order Routing Rules Brokers Actually Use

See how brokers use FIX to implement smart order routing with practical rule examples for spread, slippage, toxic flow, and LP quota management—without over-engineering execution.

April 19, 20266 min1,522

David Kovač

Stop Losing Fills: The FIX Session Lifecycle Checklist Every Broker Needs

A practical walkthrough of FIX session lifecycle mechanics—logon/logout, heartbeats, and sequence numbers—plus the failure patterns that cause brokers to miss fills and desync positions.

April 19, 20267 min1,467

David Kovač

Your Execution Stack Explained: Where FIX, Bridges, and PoPs Actually Sit (and What They Add to Latency & Cost)

Confused about FIX gateways, liquidity bridges, and Prime of Prime providers? Here’s how each component fits in the execution chain—and how fees and latency compound.

April 19, 20267 min1,453

Priya Desai

FIX Reject Storms: 12 Production 35=3 Errors and the 60‑Second Triage Playbook

A practical list of the most common FIX Session Reject (35=3) reasons brokers see in production—plus the fastest triage steps to isolate config, sequence, or counterparty issues.

April 19, 20267 min1,405

Priya Desai

FIX Onboarding Without Surprises: The Broker’s Playbook for Adding a New Liquidity Provider

A practical, end-to-end guide for brokers onboarding a new LP via FIX—covering credentials, sessions, certification, and a go-live checklist.

March 12, 202617 min2,754

Thomas Mueller