FAST was developed by the FIX Protocol Limited organization to standardize market data and deliver optimized performance for the exchange of electronic financial information. Built around a data compression algorithm, it significantly reduces bandwidth requirements and latency between sender and receiver when correctly implemented. FAST works particularly well at improving performance during periods of peak message rates.
FAST Protocol stands for Fast Active Scalable Transmission control. It was first developed by the California Institute of Technology.
Some of the Exchanges that utilize FAST are:
- NYSE Archapelago
- Chicago Mercantile Exchange