White Paper: High-Performance FIX for the Web Era

The FIX Protocol has been highly successful in standardizing the semantics of trading, pre-trade, and post-trade phases in the financial industry. However, its technical implementation, conceived during the early days of the internet, struggled to keep up with the high-performance needs of modern trading. This paper outlines how the FIX Protocol can be used with various encoding and session standards to meet the differing requirements of modern infrastructures and trading.