FIX-5-14 is part of the Financial Information Exchange (FIX) protocol, which is an electronic communications protocol used globally for trading financial instruments. It is an ISO-10383 standard protocol developed and maintained by the FIX Trading Community.
FIX-5-14 defines the standard specifications used in the operation of FIX-based applications. It defines message types, components, fields, and services that enable trading firms, broker-dealers, buy-side firms, sell-side firms, and market makers to interact electronically with each other. The protocol provides the necessary information and formats to enable members to exchange orders, trade reports, and other financial-related data.