Firms which have supported the FIX Algorithmic Trading Definition Language format to date include Barclays, Bloomburg, Cheuvreux, Citi, Credit Suisse, Fidelity, Goldman Sachs, ITG, JP Morgan, Merrill Lynch, Morgan Stanly NeoNet, Pragma@Weedon, UBS. That list includes all six of the worlds largest brokers and a very nice assortment of the worlds largest money center banks — and the standard has just entered the beta testing phase!
While XML is used to help render the algo order entry screens, the actual order message flowing out is traditional, lightweight tag=value ASCII FIX format which can be compressed with FIX’s FAST technology to crank it up to 50k messages per second or more. Check out the details (guests can register free with only a name and valid email): http://fixprotocol.org/register/ Log in and then go to the live directory where all the participating firm’s xml files reside: http://www.fixprotocol.org/working_groups/algowg/documents
You can also get full audio and slides from the press event from 7/25. There are also good articles on this new standard in the Technical Analyst and Euromoney.