Global Digital Finance (GDF), the global members association and platform for open innovation in digital assets in financial services, announces a partnership with the FIX Trading Community following the launch of a new Joint Working Group enabling the FIX-FINP2P Protocol Interoperability Alliance.

As the world’s largest open innovation platform supporting the development of best practices for the digital asset industry, GDF is delighted to strategically partner with the FIX Trading Community. This initiative aims to upgrade existing financial infrastructure to seamlessly interact with distributed ledger technology by facilitating interoperability across traditional financial systems and blockchain-based platforms.

The FIX-FinP2P Protocol Interoperability Alliance is dedicated to enabling seamless messaging between traditional finance and digital securities, such as regulated institutional tokenized real-world assets including bonds, loans, securities lending, alternative investments, repo, and money market funds. The integration leverages the strengths of the open-source FIX Trading Community and the open-source FinP2P tokenization interoperability protocol, with Ownera as an integration partner.

The Joint GDF and FIX Trading Community Working Group, which first met on June 20th , will operate over a four-month period, during which participating GDF and FIX community member firms and relevant blockchain technology firms will collaborate to test the integration of a FIX-based trading system with a FinP2P router in a sandbox environment.

The culmination of the Alliance’s efforts will be the publication of a white paper summarizing the sandbox testing outcomes, insights gained, and recommendations for enhancing FIX to accommodate digital assets. Member firms will have the opportunity to review and contribute their expertise to this significant deliverable.

Madeleine Boys, GDF Director of Programmes and Innovation says, “GDF is delighted to partner with FIX Trading Community to support our large roster of member firms to jointly participate in the new FIX-FinP2P Protocol Interoperability Alliance.

Developed by the GDF Private Markets Digitization Steering Group and governed by GDF under a Creative Commons license, we see this is as the logical progression for the FinP2P tokenization interoperability protocol and supports GDF’s mission and brand as the world’s largest open innovation platform driving best practice standards for digital assets.”

Commenting on the partnership, Anthony Woolley, Co-Chair of the GDF Tokenization Forum and Head of Business Development and Marketing at Ownera said, “The biggest challenge facing tokenization initiatives today is to connect market supply and demand at scale and make it easy for buy-side institutions to access the pipelines of high-quality assets now being tokenized by the sell-side. The FIX-FinP2P Alliance will be tackling that problem head-on by enabling institutions to use their existing FIX Gateways to connect to the world of tokenization without having to worry about the expense and complexity of integrating technologies such as blockchain and digital custody into their existing systems.”

Jim Kaye, Executive Director at FIX Trading Community, adds “This Alliance is a natural partnership – both FIX and FinP2P were conceived as open peer-to-peer protocols and the potential for our community to use their FIX gateways to instruct the orchestration and settlement of tokenization transactions over FinP2P will be a testament to the power and flexibility of the FIX messaging language.”

For more information about the FIX-FinP2P Protocol Interoperability Alliance and to participate in the Working Group, please contact Anthony Woolley at anthony.woolley@ownera.io.

Source: Global Digital Finance