Glossary

A point-to-point translator that maps one counterparty's FIX dialect onto another's. A bridge solves a single connection at a time: useful, but it multiplies as every new counterparty needs its own.

Quazar's model. A fabric does everything a bridge does, translating between dialects, versions and tag conventions, and more: many-to-many routing, message transformation, session pooling, monitoring and AI-driven configuration across every connection at once. One fabric replaces a web of bridges.

The Financial Information eXchange protocol: the messaging standard the buy and sell side use to communicate orders, executions and market data.

A counterparty's own interpretation of FIX: custom tags, version quirks and conventions that differ from the base specification.

A numbered field in a FIX message (for example 35=D for a new order). Each tag carries one piece of order or session data.

A live FIX connection between two systems, with sequence numbering, heartbeats and recovery to keep both sides in step.

Converting varied inbound dialects into one consistent internal model, so downstream systems see a single, predictable format.

Directing messages between systems: pass-through, fan-out, funnel-in and many-to-many patterns, with merge and split.

A duplicate stream of execution reports sent to a monitoring or compliance system, without touching the live order path.

The testing process that validates a new connection against a counterparty's specification before it goes live.

The full chain of an order: parent/child relationships, algo parameters and execution IDs, preserved intact through translation.

Order and Execution Management Systems: the front-office platforms that create, send and manage orders and their executions.