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Transactionally Deterministic High Speed Financial Exchange Having Improved, Efficiency, Communication, Customization, Performance, Access, Trading Opportunities, Credit Controls, and Fault Tolerance

  • US 20150127509A1
  • Filed: 11/07/2013
  • Published: 05/07/2015
  • Est. Priority Date: 11/07/2013
  • Status: Abandoned Application
First Claim
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1. A system for improving efficiency of a trading system for a plurality of financial instruments, each of the plurality of financial instruments comprising at lease one component, the system comprising:

  • an order memory operative to store data representative of a set of previously received but unsatisfied orders, each order being for a transaction for at least one of the plurality of financial instruments;

    a plurality of match engines coupled with the order memory, each of the plurality of match engines comprising a first logic component operative to implement a market for a financial instrument of the plurality of financial instruments by being further operative to cause the first processor to attempt to match an incoming order provided thereto for a transaction for the financial instrument with at least one other of the set of previously received but unsatisfied orders, the at least one other previously received but unsatisfied order being for a transaction counter thereto for a financial instrument of the plurality of financial instruments having at least one component in common with the financial instrument of the incoming order, to at least partially satisfy one or both of the incoming order or the at least one other previously received order, and update the stored data in the order memory representative of the set of previously received but unsatisfied orders based thereon; and

    a first logic component, coupled with the order memory and the plurality of match engines and operative to, upon receipt of an incoming order from a market participant for a transaction for a financial instrument, determine a subset of the set of previously received but unsatisfied orders each having at least one component of the associated financial instrument in common with the financial instrument of the incoming order, and determine if access to the subset has been previously allocated to one of the plurality of match engines and, where access to the subset has been previously allocated to one of the plurality of match engines, route the incoming order thereto for a match attempt thereby, and wherein access to the subset has not been allocated to one of the match engines, select one of the plurality of match engines, allocate access to the subset to the selected match engine and route the incoming order to the selected match engine for a match attempt thereby.

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