The Internet Financial EXchange (IFEX) Project is an open group of volunteers who design and document protocols for forward looking financial exchange. Our technical proposals include:
- X-ISO4217-A3 (X-ISO4217-A3). A published proposal that provides a mechanism for the open identification of currencies or currency-like commodities on the internet.
- Internet IBAN (IIBAN). A published proposal that provides a mechanism for the open identification of financial endpoints on the internet.
- Internet MIC (IMIC). A published proposal that provides a mechanism for the open identification of financial markets on the internet.
- Internet Financial EXchange (IFEX). A proposal under development that facilitates the negotiation of financial transactions between internet-based financial endpoints.
Why should I care?
This is a special time for the finance industry, and the internet as a whole. Trends such as the growth of mobile, the emergence and continued growth of digital currencies, crises within the traditional financial industry, the growing use of financial blockades (eg. Wikileaks and Iran) for political ends, regulatory and political change have created a complex and dynamic environment.
IFEX promises to provide benefits to all sectors of the internet community by encouraging the objective description of financial settlement network properties, enabling redundant financial routing, increasing financial system interoperability and fostering financial system diversity.
How can I get involved?
The IFEX project is a volunteer effort and encourages participation from all sectors of the financial community.
Any and all participation is valued, be it in the form of ideas, statements of interest or technical assistance.
To get involved:
Three technical proposals have already been published:
- X-ISO4217-A3 - identification of currencies and currency-like commodities.
- IIBAN - identification of internet financial endpoints
- IMIC - identification of internet financial markets
We now seek to gather a community of volunteers to review and develop draft proposals for an actual transaction layer on top of these identification standards, the Internet Financial EXchange (IFEX) protocol. One or more open source implementations of the IFEX protocol will then be created and distributed freely to the internet community.
- 2013-05-16: New IIBAN draft for internet financial endpoint identification published.
- 2012-11-26: New X-ISO4217-A3 v02 draft proposal published.
- 2012-11-25: New X-ISO4217-A3 v01 draft proposal published.
- 2012-11-13: X-ISO4217-A3 v00 proposal for the identification of currencies and currency-like commodities published. IIBAN and IMIC updates published.
- 2012-04-13: IIBAN v1 proposal for internet financial endpoint identification published. Website and mailing list announced.
- 2012-04-11: Website and mailing list created.
- 2011-11-15: IIBAN v0 proposal for internet financial endpoint identification and IMIC v0 proposal for internet financial market identification published.