In Which Scenarios Is a Custom Binary Protocol Superior to Standard Protocols for RFQ?

A custom binary protocol is superior when maximum performance and minimal latency are the absolute priorities, often in highly competitive high-frequency trading. It allows for extreme optimization of message structure and parsing specific to the application's needs, removing all overhead from general-purpose protocols.

This is typically only feasible when connecting to a limited number of venues that also support the custom protocol.

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In Which Scenarios Is a Custom Binary Protocol Superior to Standard Protocols for RFQ?
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