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What is FIX FAST, and what are its features?

  • onixsbiz
  • Mar 22, 2024
  • 2 min read

FIX FAST (FIX Adapted for Streaming) is a protocol used in the real-time distribution of high-volume market data within financial markets. It is an adaptation of the FIX (Financial Information eXchange) protocol specifically designed for streaming data, aiming to optimise efficiency and reduce latency in the transmission of market data.

The best part about FAST is that it does not resend the already transmitted data. Moreover, you do not need specific business structure requirements to implement FAST into the system.



What are the key features of FIX FAST?


FIX FAST protocol is implemented when the parties agree to follow a similar structure and encoding rules. This helps maintain integrity during the process.

You must know about a few features of FIX FAST before implementing it.


Binary encoding

Unlike the text-based encoding used in traditional FIX, FIX FAST uses a binary format. This allows for faster transmission of data and reduces bandwidth usage.


Message compression

FIX FAST supports message compression techniques to further the size of data packets transmitted over the network. This helps in reducing latency and improving overall system performance.


Enhanced performance

By using binary encoding and message compression, FIX FAST significantly improves data transmission performance compared to traditional FIX protocols. It is particularly beneficial in high-frequency trading environments where speed is critical.


Market data optimisation

FIX FAST is tailored for efficient market data distribution, including real-time quotes, trades, order book updates, and other relevant information. It ensures market participants receive timely and accurate data to make informed trading decisions.


Standardisation and interoperability

FIX FAST maintains compatibility with the FIX protocol, allowing seamless integration with existing trading systems and infrastructure. It ensures standardisation and interoperability across different trading platforms and market participants.


Overall, FIX FAST facilitates the rapid and reliable dissemination of market data in electronic trading environments, enabling financial institutions to execute trades swiftly and efficiently while maintaining compliance with industry standards.


 
 
 

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