What Are the Key Differences between WebSocket and FIX Protocol for Crypto Data Feeds?
WebSocket is an efficient, full-duplex protocol often used for streaming real-time market data due to its low overhead and persistent connection. FIX is a more complex, standardized messaging protocol focused on reliability and order management, not just data streaming.
FIX is stateful, ensuring sequence integrity, which is crucial for reliable execution. WebSocket is generally simpler to implement for market data but lacks the comprehensive session management of FIX.
Glossar
Fix Protocol
Definition ⎊ Fix Protocol refers specifically to the Financial Information eXchange messaging standard, a widely adopted electronic communication protocol used extensively in traditional and increasingly in crypto derivatives trading for speed and reliability.
Session Management
Connection ⎊ Session Management encompasses the entire lifecycle of a persistent connection between a trading system and an exchange, from initial login and authentication to graceful termination and error handling.
Standardized Messaging
Interoperability ⎊ Standardized Messaging promotes critical interoperability across the fragmented landscape of cryptocurrency and derivatives exchanges by establishing a common language for financial communication.