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FAST protocol

From Wikipedia, the free encyclopedia

The FAST protocol (FIX Adapted for STreaming) is a technology standard developed by FIX Protocol Ltd., specifically aimed at optimizing data representation on the network. It is used to support high-throughput, low latency data communications between financial institutions.

In particular, it is a technology standard that offers significant compression capabilities for the transport of high-volume market data feeds and ultra low latency applications.[1]

History

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Timeline

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  • 2004 Market Data optimization Working Group (“mdowg”) was formed
  • 2005 Proof of Concept (“POC”) project
  • 2006 FAST 1.0 released
  • 2007 FAST 1.1 released
  • 2009 FAST 1.2 proposed

In November 2004, Mike Cormack (then CEO Archipelago Holding) spoke at the FPL (FIX Protocol Ltd) conference in New York regarding a call for action to meet the challenges of the increased market data volumes. The increasing volumes of market data were causing delays, preventing market data from reaching traders in a timely fashion, thus disrupting their ability to trade. The classic FIX tag value format was considered to be too verbose and had a high processing overhead. A working group was formed within FPL shortly after the conference.[2]

Current version of FAST

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The approved standard is currently at version 5.0, and is used in commercially available products. There are Open Source implementations of the Protocol available.

Exchanges that have adopted FAST

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Open source implementations

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Source code for implementations of the FAST Specification are available from the following sources:

Description Language URL License Notes
FPL Reference Implementation C (not C++) https://www.fixtrading.org/standards/fast/ W3C Software License. Not a complete implementation. Reference only.
FPL Reference Implementation C# https://www.fixtrading.org/standards/fast/ W3C Software License. Not a complete implementation. Reference only.
OpenFAST Java http://openfast.sourceforge.net/ Mozilla Public License Includes SCP 1.1
OpenFAST.NET C# www.sourceforge.net/projects/openfastdotnet/ Mozilla Public License Includes SCP 1.1
QuickFAST C++ https://github.com/objectcomputing/quickfast New BSD License Includes C# (.NET) wrapper
goFAST Golang www.github.com/co11ter/goFAST Apache License 2.0 Not a complete implementation.

See also

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References

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  1. ^ "Exchange Plans for FAST". Inside Market Data. 2006-02-13.[permanent dead link]
  2. ^ "FIX Protocol releases market data streaming test results". Finextra Research. 2005-09-07.
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