The FAST protocol (

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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.

History

Timeline

* 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.

Current version of FAST

The approved standard is currently at version 5.0, and is used in commercially available products. There are

Open Source Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use the source code, design documents, or content of the product. The open-source model is a decentralized sof ...

implementations of the Protocol available.

Exchanges that have adopted FAST

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed co ...

Archipelago *

CME Group CME Group Inc. (Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, The Commodity Exchange) is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset clas ...

(CME) * International Securities Exchange (ISE) * NasdaqOMX * Eurex * Xetra *

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

(BSE Ltd, India) *

BATS Bats are mammals of the order Chiroptera.''cheir'', "hand" and πτερόν''pteron'', "wing". With their forelimbs adapted as wings, they are the only mammals capable of true and sustained flight. Bats are more agile in flight than most bi ...

* ICAP * OPRA * B3 *

Nordic Growth Market Nordic Growth Market(NGM Exchange) is a regulated exchange that delivers trading, exchange technology and public company services. The exchange operates in Sweden, Finland, Denmark, and Norway and was established in 1984. Since 2008, Nordic Growth ...

(NGM) * Moscow Exchange (MOEX) *

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Excha ...

(SSE, China)

Open source implementations

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

References

External links

FAST protocol's official homepage
and list of proof of concept sponsors. Internet Protocol based network software {{Compu-network-stub