We are using fix earlier but client say implement OUCH for placing trade since that's faster . I checked on internet and message looks quite similar. How it get speed benefit. Please give me some example message
Basically, FIX message is transferred in text format, while OUCH transfers messages in binary format, which leads to OUCH could transfer message in slim size and occupy less bandwidth over the network; for achieving higher performance over transmission.
Everything has a trade-off. Below has listed some comparing items between both for a reference.
Data Format
FIX: Text
OUCH: Binary
Data Size
FIX: Big
OUCH: Slim
Data Length
FIX: Variable
OUCH: Fixed
Data Sequence
FIX: Explicit
OUCH: Implicit
Universality
FIX: Industrial standard; generally supported & accepted by most exchanges and clients
OUCH: Proprietary; limited to specific exchanges