Fixed-record length files have, as the name says, a fixed length for each
record. They also have a fixed length for each field (column). If the data in
the column is too short, it's padded with spaces. If too long, it's truncated.
This type of file does use a delimiters in the strict sense of the word. A
field begins at a certain position in the record, say position 27, and it's,
say 10 characters long. i.e. characters 27-36 represent this field. No spaces
are needed at all. If all fields are the the specified length, the file would
contain no spaces at all (other than embedded spaces in a text field).
I guess "Speedy" is after the equivalent of a CSV file, but with a space
between fields instead of a comma. Excel can't do that automatically. You'd
have to write the VBA code yourself.