List of electronic trading protocols explained

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)
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

Europe

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 Derivatives4.2 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 DerivativesSAIL (Native) 4.2 HSVF
TurquoiseNative GTP
Warsaw Stock ExchangeUTP4.4XDP
T7 ETI (Cash Markets Reference) 4.4 EOBI / FIX/FAST

Asia

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Exchange Native Order Flow FIX Order Flow Market Data
TMP (TWSE Message Protocol) 4.4FIX/FAST
TMP (TWSE Message Protocol) 4.4
Arrowhead 4.2 FLEX
Indonesia Stock ExchangeOUCHFIX 5.0ITCH
OMEX -
OMEX -
OCG - OMD
OMEX - OMD