FAST FIX for Trading

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Imported from previous forum

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My understandig is that FAST fix is used for disseminating Market Data. It can be in TCP or UDP format. I would like to know if FAST FIX can be used to send quotes or to route orders to various trading systems. Any help is appreciated.

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Dipali,

I suggest you speak with Rikard Hedberg or Johan Toll.
They should be in your internal e-mail directory.

/Rolf

My understandig is that FAST fix is used for disseminating Market Data.
It can be in TCP or UDP format. I would like to know if FAST FIX can be
used to send quotes or to route orders to various trading systems. Any
help is appreciated.

4

My understandig is that FAST fix is used for disseminating Market Data.
It can be in TCP or UDP format. I would like to know if FAST FIX can be
used to send quotes or to route orders to various trading systems. Any
help is appreciated.

The answer is: Basically yes. You can use FAST encoding for any kind of FIX messages, even non-FIX messages. But the question is how much effort is it to define the FAST-Templates (you have to analyse your FIX message stream to factor out similiar messages) and to implement it compared to the value you get from it (reduced bandwidth, higher transfer rates).

IMHO, quoting is a good application since you need speed here and send many nearly identical messages for price updates.

In the Market Data Optimization Working Group, there is a document under review which deals with “FIX over FAST” best practises:

See also the PROPOSAL section in general:

Cheers, Jörg

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[ original email was from Toby Corballis - toby.corballis@rapidaddition.co.uk ]
> My understandig is that FAST fix is used for disseminating Market Data.

It can be in TCP or UDP format. I would like to know if FAST FIX can be
used to send quotes or to route orders to various trading systems. Any
help is appreciated.

As Jörg says, you can use FAST for any message type (so the basic answer to your question is yes), though you need to factor is whether the message you’re sending is worth encoding or not.

Also, to note, is that FAST is a young, and therefore still emerging, standard so keeping an eye on its evolution in the near future will also be important.

Toby