Data capture and real time risk controls for electronic markets

摘要

A distributed, transparent, in-line risk management and traffic capture system that solves securities trading compliance problems. A transparent cut-through sniffer device is coupled with a real-time packet processor to police traffic flows between trading clients and exchange servers.

主权项

1. A method for inspecting transaction data to determine compliance with transaction risk rules with reduced latency comprising:
at a fixed cut-through device having a first network interface and a second network interface operating independently of one another, the fixed cut-through device; receiving transaction information concerning a requested transaction from one or more client machines via first network interface; inspecting the transaction information to determine compliance with two or more transaction risk rules requiring real time processing; sending at least some of the transaction information to one or more exchange servers via a second network interface;
wherein the step of sending the at least some of the transaction information to the one or more exchange servers via the second network interface at a time that begins both:
(a) prior to receiving all of the transaction information concerning the requested transaction from the one or more client machines that originated the requested transaction; and(b) prior to completing the inspecting step to determine compliance with the two or more transaction risk rules requiring real time processing.