MDP 3.0 uses compact Simple Binary Encoding (SBE) optimized for low latency of encoding and decoding while keeping bandwidth utilization reasonably small. Concise message sizes are used but without the processing cost of compression. All FIX semantics are supported. The encoding standard is complimentary to other FIX standards for session protocol and application level behavior.
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The key features of Simple Binary Encoding are:
- Little-endian byte ordering
- Based on IEEE primitive data type encodings
- Extension with “null” values
- Complex data types are broken down with primitive data types
- Primitive integers are native types on popular platforms (avoids character conversion)
- Decimal numbers for prices have flexible or fixed precision
- Timestamps, times and dates are sent as numeric units of time rather than verbose strings
- Enumerations are well defined
- Maximizes direct access
- High flexibility
- Very low latency
- Low encoding/decoding processing
- Message schema-based to drive content
- Uses templates to indicate which operations to use in decoding
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Client systems have the flexibility to implement the standard in a way that best suits their needs.
Binary Encoding Example
The following timestamp:
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