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]
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]
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.
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. |
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