OUCH protocol

The OUCH protocol is a message-based protocol used by financial institutions to communicate with each other. It is based on the ISO 8583 standard and uses a simple, text-based format. The OUCH protocol is used to send messages such as orders, executions, and cancellations between institutions. It is also used to send messages such as … Read more

Evolutionary computation

Evolutionary computation is a subfield of artificial intelligence that deals with the design and analysis of algorithms based on natural selection, Darwinian evolution, and other evolutionary mechanisms. These algorithms are used to solve optimization and search problems in a wide variety of fields, including engineering, economics, and biology. Evolutionary computation is motivated by the observation … Read more

Financial Crimes Enforcement Network (FinCEN)

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. FinCEN was established in 1990 by an act of Congress, and its mission is to … Read more

Federal Rules of Civil Procedure (FRCP)

The Federal Rules of Civil Procedure (FRCP) are a set of rules governing the procedure of civil lawsuits in the United States federal court system. The FRCP are promulgated by the United States Supreme Court pursuant to the Rules Enabling Act, and govern how cases are to be managed from start to finish in federal … Read more

Virtual asset

A virtual asset is a digital file that has value and can be traded. Cryptocurrencies, such as Bitcoin, are the best-known examples of virtual assets. Other virtual assets include virtual currencies, digital collectibles, and in-game items. How can criminals misuse virtual assets? Virtual assets are often stored in online wallets, which can be easy targets … Read more

FIX protocol (Financial Information Exchange protocol)

The FIX Protocol (Financial Information Exchange Protocol) is an electronic communications protocol initiated in 1992 for international real-time exchange of information related to securities transactions and markets. The protocol has undergone several revisions since its inception, with the most recent version being FIX Protocol Version 5.0. The protocol is maintained by FIX Protocol Limited (FPL), … Read more

OTTO protocol (OUCH To Trade Options)

The OTTO protocol is a standardized means of communication between options market makers and traders. It allows market makers to quickly and easily quote prices for options contracts, and also allows traders to send orders to market makers. The protocol was developed by the Options Clearing Corporation (OCC) and the Chicago Board Options Exchange (CBOE). … Read more