List of electronic trading protocols

Electronic Trading communications 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 low latency traders.

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
Bolsa Mexicana de Valores	FIX	4.4 - version 2.4	INTRA / SIVA TCP
BM&FBovespa	n/a	EntryPoint	UMDF
Boston Options Exchange	SAIL	4.2	HSVF
Chicago Mercantile Exchange	n/a	iLink	Simple Binary Encoding
Chi-X	-	-	ITCH
Montreal Exchange	SAIL	4.2	HSVF
Nasdaq	OUCH 4.2 Client	-	ITCH5.0
NYSE	UTP Direct	4.2
TSX	FIX Client	TSX-FIX	QUANTUMFEED
Chi-x canada	FIX	FIX
Aequitas Neo	FIX	FIX	NITCH

Europe

Exchange	Native Order Flow	FIX Order Flow	Market Data
Aquis	ATP	4.2	-
Chi-X	OUCH	-	-
LSE Derivatives	SAIL (Native)	4.2	HSVF
Eurex	ETI	4.4	FIX/FAST
Euronext	UTP Direct	-	-
Borsa Italiana IDEM Derivatives	SAIL	4.2	HSVF
Liffe	-	-	-
London Stock Exchange	Millennium	5.0sp2	Level-2 ITCH Market Data
Moscow Exchange (MICEX)	MTESRL-TSMR	4.4	FIX/FAST
Moscow Exchange (RTS)	Plaza2	4.4	FIX/FAST
Oslo Børs (Derivatives)	SAIL	4.2	HSVF
Oslo Børs (Equities)	Millennium	(5.0)	ITCH and FIX/FAST
London Stock Exchange UK Derivatives	SAIL (Native)	4.2	HSVF
Xetra	ETS	4.4	FIX/FAST

Asia

Exchange	Native Order Flow	FIX Order Flow	Market Data
Tokyo Stock Exchange	FIX	4.2	FLEX

References