Kevin Houstoun Consultant HSBC, FPL Global Technical Committee Co-Chair
Kevin Houstoun Consultant HSBC, FPL Global Technical Committee Co-Chair

FIX Adapted for STreaming - FASTsm Protocol.

Kevin Houstoun and Ken Yeadon provide an overview of the FIX protocol FAST initiative and It’s implications for the FX markets.

Ken YeadonEnterprise E-trading Strategy Consultant, HSBC.FIX Protocol Limited, the custodians of the FIX Protocol, has launched a new protocol called FASTsm, FIX Adopted for STreaming. FIX messages, like any self describing message syntax, have a relatively high overhead of message descriptor. The FASTsm protocol is a way of eliminating this overhead by exchanging the message description separately from the message. This, along with a number of other data compression techniques, allows FASTsm to address the explosion in market data volumes and the technical challenges of transmitting them.FIX Protocol Limited developed the FASTsm protocol by empirically testing a number of different compression techniques on market data from a number of the worlds leading exchanges in a sponsored proof of concept. The sponsors were Archipelago Exchange, Chicago Mercantile Exchange, International Securities Exchange, London Stock Exchange, Microsoft and Singapore Stock Exchange.The FASTsm protocol has been demonstrated to be a...continued

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