Orc Software, a technology provider for advanced trading, brokerage and connectivity, has released an open architecture framework called CameronFAST, a FIX Adapted for STreaming (FAST) protocol that delivers smaller transaction messages, faster executions and lower market data exchange costs, the firm says.
“Orc Software is taking a leading role in providing global customers with FAST-encoded FIX,” says John Cameron, chief technology officer, Orc Software. “CameronFAST will be highly valued by firms looking to get ahead in the latency and bandwidth race. Potential users include exchanges, market data providers and algorithmic trading applications, where reliable compression of high volume market data, for distribution or consumption, is paramount.”
“Smaller transaction messages and faster execution will drastically lower their costs for exchanging market data,” continues Cameron. “The FAST Protocol has already proven to be a highly efficient solution for spiralling market data volumes, and is being adopted by the world’s leading exchanges.”
FAST was developed by the FIX Protocol organisation to bring the benefits of standardisation to market data and deliver optimised performance for the exchange of electronic financial information. Built around a data compression algorithm, when it is correctly implemented, it reduces bandwidth requirements and latency between sender and receiver, according to Orc Software. FAST works particularly well at improving performance during periods of peak message rates.
Existing Orc solutions including Orc Trader, Orc Liquidator, CameronFIX Universal Server and CameronFIX Market Data Server, will be CameronFAST-enabled by integrating the protocol within their core architecture. All Orc applications will be internally optimised for FAST and this will be available as an option for customers during Q4. CameronFAST is 100% FAST 1.1 compliant and includes full XML template support.