FIX Trading Community Announces New High-Performance FIX Protocol Version

The the non-profit, industry-driven standards body FIX Trading Community has announced that it is releasing a new high-performance version to its widely acclaimed communications standard FIX Protocol. The organization is launching Simple Binary Encoding (SBE) version 1.0 Draft Standard to accommodate the high-performance needs in transactions and/or data feeds.

The update is in response to increasingly agile hardware, software and network connections. The rapidly developing infrastructure has prompted a re-examination of the FIX High Performance Working Group to examine the current version of the FIX Protocol to address how the requirements for new financial applications such as high-frequency trading and market data can be met.

The binary message encoding is non-proprietary and is going to work independently or in conjunction with other FIX standards. The Simple Binary Encoding is optimized for low which is likely to accommodate the needs of ever-increasing speeds of trading.

Commenting on the announcement, the chair of the FIX Simple Binary Encoding Subgroup, Don Mendelson, said: “FIX Simple Binary Encoding version 1.0 Draft Standard is the culmination of four years of collaboration by working group participants. Thanks to their hard work, SBE has already been successfully used by CME Group, Moscow Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, Thomson Reuters and others.”

“Good collaboration and representation within the FIX Trading Community allowed the creation of a FIX standard for high performance encoding. FIX Simple Binary Encoding provides a good solution to existing challenges and resulted in an early adoption by various exchanges and vendors, including CME Group Globex Market Data Interfaces,” added Fred Malabre, Senior Director of Architecture and Product Management at the CME Group.