Fault tolerant electronic trading system and method

• US 20080059846A1
• Filed: 08/30/2007
• Published: 03/06/2008
• Est. Priority Date: 08/31/2006
• Status: Abandoned Application

• Current Assignee: Rosenthal Collins Group LLC (Marex Spectron Group Ltd.)
• Original Assignee: Rosenthal Collins Group LLC (Marex Spectron Group Ltd.)
• Inventors: Levine, Benjamin D., Adams, Samuel Brian, Rosenthal, Leslie
• Application Number:
  US11/897,460
• Publication Number:
  US 20080059846A1
• Time in Patent Office: Days
• US Class Current: 714/100
• CPC Class Codes: G06F 11/2023 Failover techniques
• CPC Class Codes: G06F 11/2035 without idle spare hardware
• CPC Class Codes: G06F 11/2046 where the redundant components share persistent storage G06F11/2043 takes precedence
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A fault tolerant electronic trading system and method. The fault tolerant electronic trading system and method includes N-level redundancy that allows multiple components within the system to fail without forcing users off the system or causing the trading system to fail. Fault tolerance with risk management controls is also provided.

Claims

1. A method for fault tolerant electronic trading, comprising:

providing a fault tolerant electronic trading exchange component for an electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more electronic trading exchanges;

providing a fault tolerant order management component for the electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more order management systems; and

providing a fault tolerant client component for the electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more client components,

wherein the plurality of fault tolerant components are provided via a plurality of entity relationships between the plurality of fault tolerant components and plurality of corresponding actual components.

2. The method of claim 1 further comprising a computer readable medium having stored therein instructions for causing one or more processors to execute the steps of the method.

3. The method of claim 1 wherein the plurality of fault tolerant components and the plurality of corresponding actual components communicate via Financial Information Exchange (FIX) protocol.

4. The method of claim 1 wherein the plurality of entity relationships include a configuration entity relationship, an order management entity relationship and an instrument entity relationship.

5. The method of claim 1 wherein the plurality of fault tolerant components includes a plurality of risk management controls including a pre-trade risk controls and post-trade risk controls.

6. The method of claim 5 wherein the pre-trade risk controls include client number, account number, market or product type, order type or trading identifier.

7. The method claim 5 wherein the post-trade risk controls include open position limit, daily profit and loss limit, excess cash limit or cash available.

8. The method of claim 1 wherein the plurality of fault tolerant components communicate with secure communications paths.

9. The method of claim 1 wherein the plurality of fault tolerant components include N-level redundancy that allows multiple components to fail on the electronic trading system without affecting electronic trades on the electronic trading system.

10. A method for fault tolerant electronic trading with risk management controls, comprising:

providing a plurality of fault tolerant components via a plurality of entity relationships between the plurality of fault tolerant components and plurality of corresponding actual components for electronic trading, wherein the plurality of fault tolerant components include a fault tolerant electronic trading exchange component, a fault tolerant order management component and a fault tolerant client component for an electronic trading system;

providing a plurality of pre-trade risk controls for the plurality of fault tolerant components;

providing a plurality of post-trade risk controls for the plurality of fault tolerant components,

wherein the plurality of pre-trade risk controls and the plurality of post-trade risk controls providing additional risk controls for electronic trading on the electronic system.

11. The method of claim 10 further comprising a computer readable medium having stored therein instructions for causing one or more processors to execute the steps of the method.

12. The method of claim 10 wherein the pre-trade risk controls include client number, account number, market or product type, order type or trading identifier.

13. The method claim 10 wherein the post-trade risk controls include open position limit, daily profit and loss limit, excess cash limit or cash available.

14. The method of claim 10 wherein the plurality of fault tolerant components include N-level redundancy that allows multiple components to fail on the electronic trading system without affecting electronic trades on the electronic trading system.

15. The method of claim 10 wherein the plurality of fault tolerant components and a plurality of corresponding actual components communicate via Financial Information Exchange (FIX) protocol.

16. The method of claim 10 wherein the plurality of entity relationships include a configuration entity relationship, an order management entity relationship and an instrument entity relationship.

17. A fault tolerant system for electronic trading, comprising in combination:

means for providing fault tolerance including a means for a fault tolerant electronic trading exchange component for an electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more electronic trading exchanges, for providing a fault tolerant order management component for the electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more order management systems, and for providing a fault tolerant client component for the electronic trading system to allow the electronic trading system to recover from a problem with one or more connections to one or more client components, wherein the plurality of fault tolerant components are provided via a plurality of entity relationships between the plurality of fault tolerant components and plurality of corresponding actual components; and

means for pre-trade risk controls wherein a client device cannot exceed pre-determined pre-trade control limits; and

means for post-trade risk controls where a client device cannot exceed pre-determined post-trade control limits.

18. The system of claim 17 wherein the plurality fault tolerant components and the plurality of corresponding actual components communicate via Financial Information Exchange (FIX) protocol.

19. The system of claim 17 wherein the plurality of entity relationships include a configuration entity relationship, an order management entity relationship and an instrument entity relationship.

20. The system of claim 17 wherein the means for pre-trade risk controls include client number, account number, market or product type, order type or trading identifier.

21. The method claim 17 wherein the means for post-trade risk controls include open position limit, daily profit and loss limit, excess cash limit or cash available.