Developed by the FIX Protocol Limited (FPL) Market Optimization Working Group, FAST is designed to enable the processing of much higher message volumes over existing bandwidth connections while also reducing message latency.

Gissing's unique family of FAST products will enable organisations that are already using the FIX Protocol for data communication to quickly, transparently and cost-effectively begin using the new FAST protocol, helping them achieve faster processing times and improved data throughput. As well as using the FAST Protocol for their FIX applications, Gissing's family of FAST products will also allow organisations to use the protocol to handle and contribute data between other applications, subscribe to market rates feeds that use the protocol, and deliver data directly to their market data platforms. In trials with test data the FAST Protocol has been shown to increase data throughput by as much as ten times.

Richard Gissing, CTO of Gissing Software said: "The FAST Protocol has been widely endorsed and with the recent publication of the FAST Protocol Reference Code is now beginning to be adopted across the industry. With FAST likely to be confirmed as one of the primary protocols used by organisations publishing pre and post-trade data to comply with MiFID in Europe, we've taken the strategic decision to add FAST Protocol handling to our product set. Increasing volumes in electronic trading and market data messaging rates are driving the need for tools such as the FAST Protocol and we firmly believe it will benefit our customers in the long term."

Gissing Software's unique family of FAST products, due to be launched later this year, include:

Gissing FASTtunnel – a high-speed protocol converter from FIX to FAST and vice-versa. The application will enable organisations already using the FIX protocol for data communication to enhance data throughput using the FAST protocol capability. Gissing Software plans to offer an OEM license agreement for this product so that third parties may include this functionality in their own solutions.

Gissing FAST Output Handler – an addition to the extensive family of protocol handlers for Gissing ConteX MCS. This will enable clients already using Gissing ConteX MCS to contribute data using the FAST protocol.

Gissing FAST Feed Handler – an addition to Gissing's market rates feed handler family. This handler will enable organisations to subscribe to market rates feeds using the FAST Protocol and deliver that data directly to a market data platform such as Reuters RMDS.

Gissing FAST Feed Gateway – for organisations wishing to subscribe to multiple market rates feeds, all of which use the FAST Protocol. This application accepts market rates feeds and aggregates them before publishing the aggregated data to the client’s market data platform. It also allows clients who need to limit the amount of data being published onto the market data platform to configure their own limits to the data flow. For example, they could stipulate that they only want to see the five best prices for an equity, updated once a second.