ISLA and FIX Trading Community collaborate on securities lending
22 July 2025 UK
Image: David/stock.adobe.com
The International Íø±¬³Ô¹Ï Lending Association (ISLA) has collaborated with FIX Trading Community on the formation of common standards for securities lending.
Initially focusing on pre-trade processing and trade execution, the collaboration will look to align the Common Domain Model (CDM) and FIX protocol.
The partnership will also look to identify opportunities to align and use both standards to improve processing, workflow management, and interoperability.
According to ISLA, recent studies have shown that incorrect trade booking is a primary source of settlement failure.
Aligning the CDM and FIX protocol to support common processing and functionality in the pre-trade cycle aims to enhance market efficiency, reduce costs, and facilitate compliance with downstream regulatory obligations such as accurate transaction reporting.
The journey towards common and open standards is a key development for financial markets to address legacy challenges of interoperability, resilience, and the digitisation of markets, the association comments.
Initially focusing on pre-trade processing and trade execution, the collaboration will look to align the Common Domain Model (CDM) and FIX protocol.
The partnership will also look to identify opportunities to align and use both standards to improve processing, workflow management, and interoperability.
According to ISLA, recent studies have shown that incorrect trade booking is a primary source of settlement failure.
Aligning the CDM and FIX protocol to support common processing and functionality in the pre-trade cycle aims to enhance market efficiency, reduce costs, and facilitate compliance with downstream regulatory obligations such as accurate transaction reporting.
The journey towards common and open standards is a key development for financial markets to address legacy challenges of interoperability, resilience, and the digitisation of markets, the association comments.
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