Standards Through the Looking Glass: Disruption, Competition, and the Role of Open Source and Open Communities
A look at the standards landscape from a macroeconomic and geopolitical perspective, possible learnings from forty years of commitment to standards from material science to computer science to financial technology. A brief review of FIX as the original Fintech disruptor. Do standards still have a role in the age of disruption due to the massive sociological change brought on by the Fourth Industrial Revolution? The talk will meander with some musings on some of the principles of standardization, the nature of communities, a visit back to Hintjens' social architecture. A discussion on key standards that could impact or be impacted by the current wave of Fintech disruption and innovation. How knowledge representation, machine learning, and natural language processing can be applied to standardization via machine readable specifications using the open meta-standard FIX Orchestra as an example in Fintech.
Jim Northey currently serves as a co-chair of the FIX Global Technical Committee, the Chair of ISO TC68, the ISO Technical Committee for Financial Services, and chair of the US Technical Advisory Group for ISO TC322 Sustainable Finance. Jim is a past member of the US Treasury Office of Financial Research Financial Research Advisory Committee and the US CFTC Technology Advisory Committee Subcommittee on High Frequency Trading. Jim previously served in the roles of FIX Americas Region Co-chair and the co-chair of the FIX Global Derivatives Committee. Jim was awarded the FIA Annual Achievement award in 2006 as part of the team that created FIXML for listed derivatives clearing standardization.
Jim was a Senior Vice President of Strategic Research focusing on Protocol Engineering and Standards at Itiviti Group AB, following acquisition of The LaSalle Technology Group, LLC in 2015, which he co-founded in 2006.
Jim holds a B.S. in Mathematics from the University of Indianapolis and an M.S. in Financial Markets and Trading from Illinois Institute of Technology. Jim is an adjunct instructor of Finance at Michigan Technological University where he teaches courses on Derivatives and Financial Engineering and Financial Technology. Jim serves on the board of the Keweenaw Financial Corporation in Michigan and is the US Director and CIO for V2G Limited based in Camelford, UK.