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Don Mendelson
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Add baseline for RC4
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‎README.md‎

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@@ -15,10 +15,10 @@ RC3 specification is included here for reference only. Pull requests for this
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version will not be accepted.
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### Next working draft: 1.0 Release Candidate 4
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A baseline for version 1.0 RC4 will be posted here soon. The
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A baseline for version 1.0 RC4 has been posted. The
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working group encourages users to submit issues for error corrections
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and enhancements. The working group will consider pull requests for
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changes to the working draft.
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changes to the working draft. If significant changes are accepted by the working group, then RC4 will be published as a new release candidate for public review. Otherwise, RC3 may be promoted to the final draft of SBE version 1.0.
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### Previous versions
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RC3 and previous versions of SBE, as well as other FIX high performance protocols,

‎v1-0-RC4/doc/00Contents.md‎

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Contents
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========
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[Title](00Title.md)
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[1. Introduction](01Introduction.md)
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[2. Field Encoding](02FieldEncoding.md)
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[3. Message Structure](03MessageStructure.md)
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[4. Message Schema](04MessageSchema.md)
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[5. Schema Extension Mechanism](05SchemaExtensionMechanism.md)
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[6. Usage Guidelines](06UsageGuidelines.md)
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[7. Examples](07Examples.md)
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[8. Release Notes](08ReleaseNotes.md)

‎v1-0-RC4/doc/00Title.md‎

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![](./media/image1.jpeg)
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FIX Simple Binary Encoding
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==========================
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Technical Specification
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Working Draft for potential Release Candidate 4
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**THIS DOCUMENT IS A RELEASE CANDIDATE FOR A PROPOSED FIX TECHNICAL
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STANDARD. A RELEASE CANDIDATE HAS BEEN APPROVED BY THE GLOBAL TECHNICAL
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COMMITTEE AS AN INITIAL STEP IN CREATING A NEW FIX TECHNICAL STANDARD.
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POTENTIAL ADOPTERS ARE STRONGLY ENCOURAGED TO BEGIN WORKING WITH THE
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RELEASE CANDIDATE AND TO PROVIDE FEEDBACK TO THE GLOBAL TECHNICAL
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COMMITTEE AND THE WORKING GROUP THAT SUBMITTED THE PROPOSAL. THE
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FEEDBACK TO THE RELEASE CANDIDATE WILL DETERMINE IF ANOTHER REVISION AND
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RELEASE CANDIDATE IS NECESSARY OR IF THE RELEASE CANDIDATE CAN BE
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PROMOTED TO BECOME A FIX TECHNICAL STANDARD DRAFT.**
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**©Copyright 2015 FIX Protocol Limited**

‎v1-0-RC4/doc/01Introduction.md‎

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Introduction
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=========================================================================================================================================================
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FIX Simple Binary Encoding (SBE) targets high performance trading
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systems. It is optimized for low latency of encoding and decoding while
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keeping bandwidth utilization reasonably small. For compatibility, it is
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intended to represent all FIX semantics.
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This encoding specification describes the wire protocol for messages.
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Thus, it provides a standard for interoperability between communicating
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parties. Users are free to implement the standard in a way that best
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suits their needs.
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The encoding standard is complimentary to other FIX standards for
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session protocol and application level behavior.
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Binary type system
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----------------------------------------------------------------------------------------------------------------
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In order to support traditional FIX semantics, all the documented field
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types are supported. However, instead of printable character
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representations of tag-value encoding, the type system binds to native
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binary data types, and defines derived types as needed.
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The binary type system has been enhanced in these ways:
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- Provides a means to specify precision of decimal numbers and
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timestamps, as well as valid ranges of numbers.
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- Differentiates fixed-length character arrays from variable-length
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strings. Allows a way to specify the minimum and maximum length of
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strings that an application can accept.
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- Provides a consistent system of enumerations, Boolean switches and
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multiple-choice fields.
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Design principles
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---------------------------------------------------------------------------------------------------------------
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The message design strives for direct data access without complex
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transformations or conditional logic. This is achieved by:
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- Usage of native binary data types and simple types derived from
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native binaries, such as prices and timestamps.
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- Preference for fixed positions and fixed length fields, supporting
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direct access to data and avoiding the need for management of heaps
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of variable-length elements which must be sequentially processed.
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Message schema
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------------------------------------------------------------------------------------------------------------
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This standard describes how fields are encoded and the general structure
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of messages. The content of a message type is specified by a message
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schema. A message schema tells which fields belong to a message and
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their location within a message. Additionally, the metadata describes
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valid value ranges and information that need not be sent on the wire,
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such as constant values.
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Message schemas may be based on standard FIX message specifications, or
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may be customized as needed by agreement between counterparties.
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Glossary
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------------------------------------------------------------------------------------------------------
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**Data type** - A field type with its associated encoding attributes,
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including backing primitive types and valid values or range. Some types
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have additional attributes, e.g. epoch of a date.
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**Encoding** - a message format for interchange. The term is commonly used
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to mean the conversion of one data format to another, such as text to
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binary. However, Simple Binary Encoding strives to use native binary
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data types in order to make conversion unnecessary, or at least trivial.
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Encoding also refers to the act of formatting a message, as opposed to
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decoding.
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**Message schema** - metadata that specifies messages and their data
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types and identifiers. Message schemas may be disseminated out of band.
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For Simple Binary Encoding, message schemas are expressed as an XML
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document that conforms to an XML schema that is published as part of
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this standard.
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**Message template** - metadata that specifies the fields that belong to
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one particular message type. A message template is contained by a
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message schema.
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**Session protocol** - a protocol concerned with the reliable delivery of
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messages over a transport. FIX protocol makes a distinction between
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session protocol and the encoding of a message payload, as described by
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this document. See the specifications section of FIX protocol web site
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for supported protocols. The original FIX session protocol is known as
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FIXT.
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**XML schema** - defines the elements and attributes that may appear in an
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XML document. The SBE message schema is defined in W3C (XSD) schema
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language since it is the most widely adopted format for XML schemas.
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Documentation
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-----------------------------------------------------------------------------------------------------------
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This document explains:
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- The binary type system for field encoding
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- Message structure, including field arrangement, repeating groups,
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and relationship to a message header that may be provided by a
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session protocol.
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- The Simple Binary Encoding message schema.
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### Specification terms
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These key words in this document are to be interpreted as described in
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[Internet Engineering Task Force RFC2119](http://www.apps.ietf.org/rfc/rfc2119.html). These terms indicate
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an absolute requirement for implementations of the standard: "**must**",
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or "**required**".
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This term indicates an absolute prohibition: "**must not**".
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These terms indicate that a feature is allowed by the standard but not
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required: "**may**", "**optional**". An implementation that does not
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provide an optional feature must be prepared to interoperate with one
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that does.
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These terms give guidance, recommendation or best practices:
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"**should**" or "**recommended**". A recommended choice among
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alternatives is described as "**preferred**".
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These terms give guidance that a practice is not recommended: "**should not**"
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or "**not recommended**".
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### Document format
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In this document, these formats are used for technical specifications
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and data examples.
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This is a sample encoding specification
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```xml
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<type name="short" primitiveType="int16" semanticType="int" />
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```
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This is sample data as it would be transmitted on the wire
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`10270000`
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References
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-------------------------------------------------------------------------------------------------------------------------------------------------------
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### Related FIX Standards
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*Simple Open Framing Header*, FIX Protocol, Limited. Release Candidate 1
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specification has been published at
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<http://www.fixtradingcommunity.org/>
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For FIX semantics, see the current FIX message specification, which is
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currently [FIX 5.0 Service Pack 2](http://www.fixtradingcommunity.org/pg/structure/tech-specs/fix-version/50-service-pack-2)
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with Extension Packs.
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### Dependencies on other standards
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SBE is dependent on several industry standards. Implementations must
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conform to these standards to interoperate. Therefore, they are
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normative for SBE.
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[IEEE 754-2008](http://ieeexplore.ieee.org/servlet/opac?punumber=4610933) A
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Standard for Binary Floating-Point Arithmetic
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[ISO 639-1:2002](http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=22109)
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Codes for the representation of names of languages - Part 1: Alpha-2
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code
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[ISO 3166-1:2013](http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=63545)
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Codes for the representation of names of countries and their
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subdivisions - Part 1: Country codes
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[ISO 4217:2008](http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=46121)
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Codes for the representation of currencies and funds
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[ISO 8601:2004](http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=40874)
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Data elements and interchange formats - Information interchange -
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Representation of dates and times
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[ISO 10383:2012](http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=61067)
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Securities and related financial instruments - Codes for exchanges and
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market identification (MIC)
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XML 1.1 schema standards are located here [W3C XML Schema](http://www.w3.org/XML/Schema.html#dev)

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