FIX Protocol Updates 29 Jun 2016
FIX Trading Community today announced the release of Simple Binary Encoding 1.0 (draft) which caters for high performance requirements of the industry. Below is the official press release:
FIX Trading Community, the non-profit, industry-driven standards body at the heart of global financial trading, today announced the release of Simple Binary Encoding (SBE) version 1.0 Draft Standard to support high performance demands in transactions and/or data feeds. Recent improvements in the speed of hardware, software and network connections have prompted the 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 challenge was to produce a standard, non-proprietary binary message encoding which is intended to work independently or in conjunction with other high performance FIX standards.
Simple Binary Encoding is optimised for low latency and implementations have been demonstrated to encode or decode messages in the realm of tens of nanoseconds. These requirements are tailored to high performance trading whilst other FIX encodings, such as tag=value and FIXML are still fit-for-purpose for other use cases. SBE has already been implemented and successfully used by a number of different market participants.
More details on this the reference implementation for this project can be found here.
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