AUTOMATED TRADING SYSTEM

• US 20110264578A1
• Filed: 07/02/2009
• Published: 10/27/2011
• Est. Priority Date: 11/10/2008
• Status: Active Grant

• Current Assignee: Psonic Pty., Ltd.
• Original Assignee: Zomojo Pty. Ltd (Cisco Systems, Inc.)
• Inventors: Chapman, Matthew, Hurd, Matthew John
• Granted Patent: US 8,706,606 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A communication interface (1) for an Automated Trading System is disclosed. The communications interface (1) has dedicated hardware (1) array to process messages (4) between an external network (2) and a matching engine (3) in the automated trading system.

Claims

1. A communications interface for an Automated Trading System, the communications interface comprising dedicated hardware arranged to process messages between an external network and a matching engine in the automated trading system.

2. A communications interface in accordance with claim 1, wherein the dedicated hardware is a programmable logic device programmed for processing of the messages.

3. A communications interface in accordance with claim 2, wherein the dedicated hardware is a programmable gate array.

4. A communications interface in accordance with claim 3, wherein the dedicated hardware is a field programmable gate array.

5. A communications interface in accordance with any one of claims 1 to 4, the dedicated hardware arrangement implementing a pursing and validation engine arranged to convert incoming messages into a request format appropriate for the matching engine.

6. A communications interface in accordance with any one of the preceding claims, the dedicated hardware implementing a notification engine for receiving transaction information from the matching engine and composing messages for sending outwards to the network.

7. A communications interface in accordance with any one of the preceding claims, the dedicated hardware implementing a security function.

8. A communications interface in accordance with claim 7, the dedicated hardware being arranged to implement the security function by implementing a check summing check of incoming messages.

9. An automated trading system, comprising a communications interface in accordance with any one of the preceding claims, and a matching engine.

10. An automated trading system in accordance with claim 9, wherein the matching engine is implemented by dedicated hardware.

11. An automated trading system in accordance with claim 10, wherein the dedicated hardware implementing the matching engine is a programmable logic device.

12. An automated trading system in accordance with claim 11, wherein the dedicated hardware implementing the matching engine is a field programmable gate array.

24. An automated trading system comprising a communications interface in accordance with any one of claims 1 to 9, and a matching engine, a further communications interface in accordance with any one of claims 1 to 9, and a further matching engine, the communications and further communications interface being connected, whereby to provide system redundancy for the automated trading system.

25. An automated trading system in accordance with claim 24, further comprising yet a further communication system in accordance with any one of claims 1 to 9, and a further matching engine, whereby to provide further system redundancy.

13. A method of handling communications with an automated trading system, comprising the steps of processing messages between a network and the automated trading system at hardware or close to hardware speeds.

14. A method in accordance with claim 13, wherein the step of processing messages is carried out by a dedicated hardware arrangement.

15. A method in accordance with claim 14, wherein the dedicated hardware arrangement is a programmable logic device.

16. A method in accordance with claim 15, wherein the dedicated hardware arrangement is a field programmable gate array.

17. A matching engine for an automated trading system, the matching engine comprising dedicated hardware arranged to execute a standard double auction process for trading of instruments.

18. A matching engine in accordance with claim 17, wherein the dedicated hardware is a programmable logic device.

19. A matching engine in accordance with claim 18, wherein the dedicated hardware is a field programmable gate array.

20. A security arrangement for an automated trading system, the security arrangement comprising a communications interface arranged to receive incoming messages to the automated trading system from an external network, and including dedicated hardware arranged to verify the incoming messages.

21. A security arrangement in accordance with claim 20, arranged to carry out the verification by way of a check summing check.

22. A security arrangement in accordance with claim 20 or claim 21, wherein the dedicated hardware is a programmable logic device.

23. A security arrangement in accordance with claim 22, wherein the dedicated hardware is a field programmable gate array.