Syntegra, the business integration arm of BT, the UK telecoms firm, is adopting Financial Information Exchange (FIX) protocol as part of a move to develop a low cost, centralised messaging system.

FIX is the message standard used by fund managers and brokers to transmit information for trade execution and settlement. The standardised format means firms can use any system and, providing it is FIX-compliant, the information will be understood. The protocol, which initially focussed on equities, is also used by the fixed income and derivatives sectors.