Building Blocks for Exchanges

Algo-Logic’s Trade-to-Tick or Building Blocks for Exchange Infrastructure (Exchange Infrastructure) receives orders from market participants and disseminates market data to subscribers. By leveraging FPGA Acceleration, in the Exchange Infrastructure, the order sequencer (Sequencer) assigns a timestamp to orders and forwards the orders to the Matching Engines. The Exchange Infrastructure System’s uniqueness lies in its ability to avoid delays and jitter caused by sequential software execution, bus transfers, memory copies, and cache misses that are present in standard software-only servers.

The Exchange Infrastructure path starts with Order Management Gateways that receive orders from market participants over the network. Sequencers benefit from hardware accelerated time-stamping of all the orders incoming from market participants. The Matching Engines use hardware accelerated in-memory databases, called a Key-Value Stores (KVS), for maintaining open orders, aggregated order book building, sorting, as well as matching of outstanding orders based on price, timestamp, volume, and other priorities. Matched orders are distributed to clearing houses, order loggers, and to market data disseminators which multicast events to market data subscribers.

The sub-components within Algo-Logic’s Exchange Infrastructure System includes the Ultra-Low-Latency (ULL) PHY+MAC, Transmission Control Protocol (TCP) Endpoint, Full Order Book with aggregated in-memory matching engine, Protocol Parsers and Low Latency Library.

To learn more either fill out the Sales Contact page or read Mondo Visione's "Building Blocks of an Exchange" article below, where additional information on our Building Blocks for Exchange Infrastructure is featured from pages 22-24 in a section titled: "Algo-Logic Systems’ FPGA solutions accelerate exchange infrastructure."

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