Sticky order routers

• US 10,263,888 B2
• Filed: 09/30/2010
• Issued: 04/16/2019
• Est. Priority Date: 09/30/2010
• Status: Active Grant

• Current Assignee: Trading Technologies International, Inc.
• Original Assignee: Trading Technologies International, Inc.
• Inventors: Mintz, Sagy Pundak
• Primary Examiner(s): Robinson, Kito R
• Assistant Examiner(s): Cranford, Michael
• Application Number:
  US12/895,419
• Publication Number:
  US 20120084191A1
• Time in Patent Office: 3,120 Days
• Field of Search: 705 35- 45, 370401
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: H04L 45/58 Association of routers
• CPC Class Codes: H04L 45/70 Routing based on monitoring results

Abstract

A sticky order routing system may include multiple order routers in communication with an electronic exchange for communicating transaction messages. Each of the order routers communicates transaction messages between multiple associated trading sessions and the electronic exchange, where of the associated trading sessions is assigned to the order router in communication with the electronic exchange. Transaction message traffic between the order routers and the electronic exchange is monitored, such as randomly, based on round-robin assignment, and/or trading data. In response to transaction message traffic exceeding a threshold, the trading session may be assigned to a new order router.

Claims

1. A method for managing trading communications with an electronic exchange, the method comprising:

establishing, via a processor of a client device, a communication link between a client device and an electronic exchange, the communication link for electronically communicating, via a first order router, multiple messages from the client device to the electronic exchange and from the electronic exchange to the client device for transacting multiple orders for at least one tradeable object at the electronic exchange;

assigning, via the processor of the client device, a communication session for the client device and the first order router according to historical data of trading volume for a trader associated with the client device, where the communication session includes the multiple messages from the client device to the electronic exchange and from the electronic exchange to the client device via the first order router;

comparing, via the processor of the client device, communications traffic between the first order router and the electronic exchange for the communication session to a predetermined communications threshold;

determining, via the processor of the client device, whether the communications traffic exceeds the predetermined communications threshold; and

in response to determining that the communications traffic exceeds the predetermined communications threshold, re-assigning, via the processor of the client device, the communication session to a second order router in communication with the electronic exchange, where, subsequent to the assigned communication session being reassigned to the second order router, multiple subsequent electronic trading communications from the client device to the electronic exchange and from the electronic exchange to the client device are via the second order router.

2. The method of claim 1 where the historical data comprises trading data for the trader associated with the communication session prior to the communication session being assigned to the first order router.

3. The method of claim 1 where re-assigning the communication session further comprises:

comparing, via the processor of the client device, communications traffic between the second order router and the electronic exchange with the communications traffic between the first order router and the electronic exchange; and

in response to determining that the communications traffic between the first order router and the electronic exchange exceeds the communications traffic between the second order router and the electronic exchange, assigning, via the processor of the computing device, the communication session to the second order router in communication with the electronic exchange.

4. A non-transitory computer readable medium having instructions stored thereon, which when executed by a processor cause the processor to carry out acts comprising:

establishing, via a processor of a client device, a communication link between a client device and an electronic exchange, the communication link for electronically communicating, via a first order router, multiple messages from the client device to the electronic exchange and from the electronic exchange to the client device for transacting multiple orders for at least one tradeable object at the electronic exchange;

assigning, via the processor, a communication session for the client device and the first order router according to historical data of trading volume for a trader associated with the communication session, where the communication session includes the multiple messages from the client device to the electronic exchange and from the electronic exchange to the client device;

comparing, via the processor, communications traffic between the first order router and the electronic exchange for the communication session to a predetermined communications threshold;

determining, via the processor, whether the communications traffic exceeds the predetermined communications threshold; and

in response to determining that the communications traffic exceeds the predetermined communications threshold, re-assigning, via the processor, the communication session to a second order router in communication with the electronic exchange, where, subsequent to the communication session being reassigned to the second order router, multiple subsequent communications from the client device to the electronic exchange and from the electronic exchange to client device are via the second order router.

5. The non-transitory computer readable medium of claim 4 where the historical data comprises trading data for the trader associated with the communication session prior to the communication session being assigned to the first order router.

6. The non-transitory computer readable medium of claim 4 where re-assigning the communication session further comprises:

comparing, via the processor, communications traffic between the second order router and the electronic exchange with the communications traffic between the first order router and the electronic exchange; and

in response to determining that the communications traffic between the first order router and the electronic exchange exceeds the communications traffic between the second order router and the electronic exchange, assigning, via the processor, the communication session to the second order router in communication with the electronic exchange.

7. An order routing system comprising:

a plurality of order routers in communication with an electronic exchange for electronically communicating transaction messages, where each order router of the plurality of order routers communicates multiple transaction messages for a plurality of associated assigned communication sessions with the electronic exchange, where each communication session includes electronic multiple trading communications with the electronic exchange for transacting multiple orders for at least one tradeable object at the electronic exchange and where, for an assigned communication session for a client device, multiple electronic communications from the client device to the electronic exchange and from the electronic exchange to the client device for transacting multiple orders for at least one tradeable object at the electronic exchange are via a first order router of the plurality of order routers;

a transaction message traffic monitor configured to monitor communications traffic between each order router of the plurality of order routers and the electronic exchange for the plurality of associated assigned communication sessions; and

an order router balancer configured to re-assign the assigned communication session for the client device to a second order router of the plurality of order routers according to communications traffic between the first order router and the electronic exchange exceeding a first predetermined communications threshold and according to historical data of trading volume for a trader associated with the assigned communication session, where, subsequent to the assigned communication session being reassigned to the second order router, multiple subsequent communications from the client device to the electronic exchange and from the electronic exchange to the client device for transacting orders for the at least one tradeable object at the electronic exchange are via the second order router.

8. The order routing system of claim 7 where communications traffic between the first order router and the electronic exchange exceeds communications traffic between the second router and the electronic exchange prior to re-assigning the assigned communication session.

9. The order routing system of claim 7 where the order router balance is further configured to re-assign a communication session associated with a third order router to a fourth order router according to transaction message traffic between the fourth order router and the electronic exchange being less than a second predetermined communications threshold.

10. The order routing system of claim 9 where transaction message traffic between the fourth order router and the electronic exchange is less than the first predetermined communications threshold after re-assigning the communication session associated with a third order router.

11. The order routing system of claim 7 where each of the plurality of associated assigned communication sessions is assigned to an associated order router according to a round robin algorithm.

12. The order routing system of claim 7 where each of the plurality of associated assigned communication sessions is randomly assigned to an associated order router among the plurality of order routers.

13. The order routing system of claim 7 where each of the plurality of associated assigned communication sessions is assigned according to historical data for the communication session.

14. The order routing system of claim 7 where each communication session of the plurality of associated assigned communication sessions is associated with a client device.

15. A method for managing trading communications, the method comprising:

assigning, via a processor of a client device, a first trading session for the client device to a first order router of a plurality of order routers in communication with an electronic exchange, where the first trading session includes electronic trading communications between the client device and the electronic exchange for transacting orders for at least one tradeable object via the first order router;

comparing, via the processor of the client device, communications traffic between the first order router and the electronic exchange for the trading session to a predetermined communications threshold; and

in response to determining that the communications traffic exceeds the predetermined communications threshold;

assigning, via the processor of the client device, a second trading session for the client device to a second order router of the plurality of order routers in communication with the electronic exchange, and

cancelling the first trading session,

where, subsequent to assigning the second trading session and cancelling the first trading session, electronic trading communications between the client device and the electronic exchange are via the second order router.

16. The method of claim 15 where assigning the first trading session comprises at least any one of randomly assigning the first trading session and assigning the first trading session in a round-robin.

17. The method of claim 15 where assigning the first trading session comprises assigning the first trading session according to historical data of trading volume for a trader associated with the trading session.

18. The method of claim 17 where the historical data comprises trading data for the trader associated with the trading session prior assigning the first trading session to the first order router.

19. The method of claim 15 where the second trading session is assigned to the second order router in response to determining that communications traffic between the first order router and the electronic exchange exceeds communications traffic between the second order router and the electronic exchange.

20. A non-transitory computer readable medium having instructions stored thereon, which when executed by a processor cause the processor to carry out acts comprising:

assigning, via a processor of a client device, a first trading session for client device to a first order router of a plurality of order routers in communication with an electronic exchange, where the first trading session includes electronic trading communications between the client device and the electronic exchange for transacting orders for at least one tradeable object via the first order router;

comparing, via the processor of the client device, communications traffic between the first order router and the electronic exchange for the trading session to a predetermined communications threshold; and

in response to determining that the communications traffic exceeds the predetermined communications threshold;

assigning, via the processor of the client device, a second trading session for the client device to a second order router of the plurality of order routers in communication with the electronic exchange, and

cancelling the first trading session,

where, subsequent to assigning the second trading session and cancelling the first trading session, electronic trading communications between the client device and the electronic exchange are via the second order router.

21. The non-transitory computer readable medium of claim 20 where assigning the first trading session comprises at least any one of randomly assigning the first trading session and assigning the first trading session in a round-robin.

22. The non-transitory computer readable medium of claim 20 where assigning the first trading session comprises assigning the first trading session according to historical data of trading volume for a trader associated with the trading session.

23. The non-transitory computer readable medium of claim 22 where the historical data comprises trading data for the trader associated with the first trading session prior to assigning the first trading session to the first order router.

24. The non-transitory computer readable medium of claim 20 where the second trading session is assigned to the second order router in response to determining that communications traffic between the first order router and the electronic exchange exceeds communications traffic between the second order router and the electronic exchange.

25. An order routing system comprising:

a plurality of order routers in communication with an electronic exchange for electronically communicating transaction messages, where each order router of the plurality of order routers communicates transaction messages between a plurality of client devices and at least one electronic exchange, where for a client device, a first trading session for the client device is assigned to a first order router of the plurality of order routers, and where the first trading session includes electronic trading communications between the client device and the electronic exchange for transacting orders for at least one tradeable object via the first order router;

a transaction message traffic monitor configured to monitor communications traffic between each order router of the plurality of order routers and the at least one electronic exchange; and

an order router balancer configured to assigned a second trading session for the client device to a second order router of the plurality of order routers according to communications traffic between the first order router and the electronic exchange exceeding a first predetermined communications threshold and to cancel the first trading session, where, subsequent to the assigning the second trading session to the second order router, subsequent electronic trading communications between the client device and the electronic exchange are via the second order router, where communications traffic between the first order router and the electronic exchange exceeds communications traffic between the second router and the electronic exchange prior to assigning the second trading session.

26. The order routing system of claim 25 where each trading session of a plurality of trading sessions is assigned to an associated order router according to a round robin.

27. The order routing system of claim 25 where each trading session of a plurality of trading sessions is randomly assigned to an associated order router.

28. The order routing system of claim 25 where each trading session of a plurality of trading sessions is assigned according to historical data.