System and method of utilizing a distributed order book in an electronic trade match engine
First Claim
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1. A system for matching orders for financial instruments, the system comprising:
- a first match engine implemented at a first computer, located in a first geographic location, and configured to use a first order book to perform order matching to cause execution of a trade based on a match identified by the first match engine;
a second match engine implemented at a second computer, located in a second geographic location, and configured to use a second order book to perform order matching to cause execution of a trade based on a match identified by the second match engine, wherein a high speed data network connects the first match engine and the second match engine and is configured to carry data used to synchronize the first and second order books.
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Abstract
Methods and systems are providing for minimizing the effects of transmission delays when providing orders for financial instruments. A plurality of order books and match engines may be maintained at geographically dispersed locations. The orders may be synchronized to provide the appearance of a single order book to traders and other users. The plurality of order books and match engines allow traders and other users to transmit orders to the match engine associated with the shortest transmission delay and to access orders pending at other match engines.
16 Citations
8 Claims
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1. A system for matching orders for financial instruments, the system comprising:
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a first match engine implemented at a first computer, located in a first geographic location, and configured to use a first order book to perform order matching to cause execution of a trade based on a match identified by the first match engine; a second match engine implemented at a second computer, located in a second geographic location, and configured to use a second order book to perform order matching to cause execution of a trade based on a match identified by the second match engine, wherein a high speed data network connects the first match engine and the second match engine and is configured to carry data used to synchronize the first and second order books. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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Specification