FAST Protocol
FIX Adapted for STreaming
High-performance protocol for transmitting real-time financial market data efficiently.
FAST Protocol compresses FIX-based market data feeds to reduce bandwidth requirements and improve transmission speed. The protocol uses template-based compression and delta encoding to minimize data size while maintaining message integrity. FAST enables exchanges to deliver high-frequency market data updates efficiently, particularly important for electronic trading and low-latency applications. The protocol supports various data types including prices, quantities, and timestamps with appropriate precision and encoding. FAST implementation requires specialized decoding software and understanding of template management. Many major exchanges use FAST for their high-speed market data feeds, making it essential for firms requiring ultra-low latency market access.
Example
Chicago Mercantile Exchange market data, Eurex derivatives feeds, high-frequency trading data