New standards for trading fixed-income products electronically first published by FIX Protocol Limited in February are expected to be widely adopted. The unified protocols could be an important step in standardizing practices across different asset classes, some analysts said. "Real-world trading involves buying a future and selling a bond, say, or doing a spread trade between a five-year swap and a two-year swap. It doesn't fit into convenient silos," said Sassan Danesh, who co-chairs the FPL global fixed-income committee.

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