Communications on electronic trading platforms are based on a list of well-defined protocols.
Although FIX protocol has grown significant market share, the exchange specific protocols (also called "Native" interfaces) have found a strong backing with people using low latency trading.
Protocols used by electronic exchanges List of Electronic Exchanges along with the protocols they currently expose as their E-Trading interface.
Americas Exchange Native Order Flow FIX Order Flow Market Data B3 (stock exchange) (aka BM&FBovespa) FIX FIX4.4 UMDF (FIX/FAST) Bolsa Mexicana de Valores FIX 4.4 - version 2.4 INTRA (UDP) / SIVA (TCP) BIVA OUCH FIX 5.0 ITCH Boston Options Exchange SAIL 4.2 HSVF Cboe BOE 4.2 PITCH Chicago Mercantile Exchange iLink FIX Simple Binary Encoding Montreal Exchange SAIL 4.2 HSVF Nasdaq OUCH 5.0 Client 4.0 - 4.2 ITCH5.0 NYSE Pillar 4.2 TSX FIX Client TSX-FIX QUANTUMFEED Aequitas Neo FIX FIX NITCH ICE FIX FIX iMpact
Europe Exchange Native Order Flow FIX Order Flow Market Data Cboe Europe BOE 4.2 PITCH Eurex T7 ETI (Derivatives Markets Reference) 4.4 EOBI / FIX/FAST Euronext SBE 5.0 SBE Borsa Italiana IDEM Derivatives SAIL 4.2 HSVF Liffe (ICE EU) FIX FIX iMpact London Stock Exchange Native 5.0sp2 GTP Moscow Exchange (MICEX) MTESRL-TSMR 4.4 FIX/FAST Moscow Exchange (RTS) Plaza2 4.4 FIX/FAST Oslo Børs (Derivatives) SBE 5.0 SBE Oslo Børs (Equities) SBE 5.0 SBE London Stock Exchange UK Derivatives SAIL (Native) 4.2 HSVFTurquoiseNative GTPWarsaw Stock ExchangeUTP4.4XDP Xetra T7 ETI (Cash Markets Reference) 4.4 EOBI / FIX/FAST
Asia Exchange Native Order Flow FIX Order Flow Market Data Taiwan Stock Exchange TMP (TWSE Message Protocol) 4.4 FIX/FAST Taipei Exchange TMP (TWSE Message Protocol) 4.4 Tokyo Stock Exchange Arrowhead 4.2 FLEXIndonesia Stock ExchangeOUCH5.0ITCH Singapore Exchange Securities Trading (SGXST) OMEX - Singapore Exchange Derivatives Trading (SGXDT) OMEX - Hong Kong Stock Exchange (HKSE) OCG 5.0 SP2 OMD Hong Kong Futures Exchange (HKFE) OMEX - OMDNational Stock Exchange (NSE)NEAT
References