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.
List of Electronic Exchanges along with the protocols they currently expose as their E-Trading interface.
| Exchange | Native Order Flow | FIX Order Flow | Market Data | |
|---|---|---|---|---|
| B3 (stock exchange) (aka BM&FBovespa) | FIX | FIX4.4 | UMDF (FIX/FAST) | |
| FIX | 4.4 - version 2.4 | INTRA (UDP) / SIVA (TCP) | ||
| OUCH | FIX 5.0 | ITCH | ||
| 4.2 | HSVF | |||
| BOE | 4.2 | PITCH | ||
| iLink | FIX | Simple Binary Encoding | ||
| 4.2 | HSVF | |||
| OUCH 5.0 Client | - | ITCH5.0 | ||
| Pillar | 4.2 | |||
| FIX Client | TSX-FIX | QUANTUMFEED | ||
| FIX | FIX | NITCH | ||
| FIX | FIX | iMpact |
| Exchange | Native Order Flow | FIX Order Flow | Market Data | |
|---|---|---|---|---|
| Cboe Europe | BOE | 4.2 | PITCH | |
| T7 ETI (Derivatives Markets Reference) | 4.4 | EOBI / FIX/FAST | ||
| SBE | 5.0 | SBE | ||
| Borsa Italiana IDEM Derivatives | 4.2 | HSVF | ||
| FIX | FIX | iMpact | ||
| 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 | HSVF | |
| Turquoise | Native | GTP | ||
| Warsaw Stock Exchange | UTP | 4.4 | XDP | |
| T7 ETI (Cash Markets Reference) | 4.4 | EOBI / FIX/FAST |
| Exchange | Native Order Flow | FIX Order Flow | Market Data |
|---|---|---|---|
| TMP (TWSE Message Protocol) | 4.4 | FIX/FAST | |
| TMP (TWSE Message Protocol) | 4.4 | ||
| Arrowhead | 4.2 | FLEX | |
| Indonesia Stock Exchange | OUCH | FIX 5.0 | ITCH |
| OMEX | - | ||
| OMEX | - | ||
| OCG | - | OMD | |
| OMEX | - | OMD | |