drew

Don't use fix use binary protocols if you can, better latency

What are the differences? I've setup tons of new trading accounts and every time we get to the technicals, ie: "do you guys want to use FIX?" I would just loop in support staff.

Fields are in fixed positions and don't require parsing by a fix engine when you trade binary protocols, saves some compute cycles. Fix more flexible and human friendly but you lose out on speed

yeah this is the correct answer. most of the time when you’re getting multicast from an exchange it comes in as a fixed size binary protocol. fix engines are slow

Assuming it doesn't matter too much to institutions who trade size (vwap otd) on a longer-ish time horizon?