FIX-3.5-12 is a version of the FIX (Financial Information Exchange) protocol, which is a messaging standard used for information exchange between financial entities (i.e., banks, brokerage firms and other financial institutions). FIX-3.5-12 is based on an International Organization for Standardization (ISO) data type format and is used for applications such as currency exchange, securities, derivatives and commodities. FIX-3.5-12 supports order and quote messages, request for a quote (RFQ), market news, execution reports, acknowledgments and rejections, order cancel and replace requests, registration and alliances and auto-quote notifications, among other types of messages. It also enables automated trading, comprehensive trade management and real-time analytics.