Imported from previous forum
[ original email was from Khody Azmoon - kazmoon@algotm.com ]
I know this working group started out as a new HFT FIX/binary protocol standard and now it is the High Performance Interface WG, but I don’t believe there is a great incentive right now for exchanges to adopt a new FIX/binary protocol standard when they are competing with each other for the same HFT trade flow.
Hi Khody,
I do not think this WG was doomed to begin with. Before FIXProtocol Tag=Value^ was invented / designed, exchanges / brokers had proprietary protocols, but after FIXProtocol came now most of the brokers and exchanges offer FIX for trade flows. Same is the story with FAST (FIX Adapted for STreaming Market Data).
As per the document below, AMEX should have discontinued its Proprietary CMS protocol and made all its order flow providers and aggregators to “upgrade” to FIX by August 31st 2007
http://www.fixprotocol.org/documents/3465/NW%20to%20Members%206%2028%2007.pdf
If AMEX’s CMS proprietary protocol was better than FIX, then they could have just debugged it and continued using it.
I saw your other discussion Thread regarding NASDAQ OUCH, but OUCH is not as general in its applicability as the new HPI in design by this WG, though I agree we could learn important lessons from NASDAQ’s ITCH and OUCH protocols.
Though most exchanges/ brokers are trying out their own High Frequency Trading / High Performance Interface protocols, yet I believe an open source High performance Interface protocol will definetly find adoption once its found to be equally or better performant.
The last post I see before your posts today Khody is on 25 Oct 2011 and that’s a very long time of inactivity for a group aiming at sub-millisecond messaging. The group as a whole has remained inactive over a long period of time and if it continues to remain so, the HPI protocol design maybe doomed. Our goal as members of this HPI WG should be to renew our efforts in the design of this new protocol.
Regards,
Mahesh
I know this working group started out as a new HFT FIX/binary protocol standard and now it is the High Performance Interface WG, but I don’t believe there is a great incentive right now for exchanges to adopt a new FIX/binary protocol standard when they are competing with each other for the same HFT trade flow.
[ original email was from Khody Azmoon - kazmoon@algotm.com ]
Mahesh,
I have a feeling we are going to continue to live in a fragmented protocol world for a long time to come as long as HFT is a factor, but I am hopeful regardless. Jim mentioned on my other post about on going discussions and I came across the recent link below.
Regards,
Khody
Hi Khody,
I do not think this WG was doomed to begin with. Before FIXProtocol Tag=Value^ was invented / designed, exchanges / brokers had proprietary protocols, but after FIXProtocol came now most of the brokers and exchanges offer FIX for trade flows. Same is the story with FAST (FIX Adapted for STreaming Market Data).
As per the document below, AMEX should have discontinued its Proprietary CMS protocol and made all its order flow providers and aggregators to “upgrade” to FIX by August 31st 2007
http://www.fixprotocol.org/documents/3465/NW%20to%20Members%206%2028%2007.pdf
If AMEX’s CMS proprietary protocol was better than FIX, then they could have just debugged it and continued using it.
I saw your other discussion Thread regarding NASDAQ OUCH, but OUCH is not as general in its applicability as the new HPI in design by this WG, though I agree we could learn important lessons from NASDAQ’s ITCH and OUCH protocols.
Though most exchanges/ brokers are trying out their own High Frequency Trading / High Performance Interface protocols, yet I believe an open source High performance Interface protocol will definetly find adoption once its found to be equally or better performant.
The last post I see before your posts today Khody is on 25 Oct 2011 and that’s a very long time of inactivity for a group aiming at sub-millisecond messaging. The group as a whole has remained inactive over a long period of time and if it continues to remain so, the HPI protocol design maybe doomed. Our goal as members of this HPI WG should be to renew our efforts in the design of this new protocol.
Regards,
MaheshI know this working group started out as a new HFT FIX/binary protocol standard and now it is the High Performance Interface WG, but I don’t believe there is a great incentive right now for exchanges to adopt a new FIX/binary protocol standard when they are competing with each other for the same HFT trade flow.