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

摘要

The disclosed embodiments relate to implementation of a trading system, which may also be referred to as a trading system architecture, having improved performance which further assures transactional determinism under increasing processing transaction loads while providing improved trading opportunities, fault tolerance, low latency processing, high volume capacity, risk mitigation and market protections with minimal impact, as well as improved and equitable access to information and opportunities.

主权项

1. A system for managing communication of a plurality of financial data messages to a plurality of market participants via a network, each of the plurality of financial data messages comprising data indicative of a change in state of an electronic marketplace for one or more financial products, the system comprising:
a first logic component operative to receive preference data from at least one of the plurality of market participants and store the preference data in the memory in association with data representative of the market participant from which it was received, the preference data specifying one or more financial data message modifications; a second logic component operative to, based on a change of state therein, to generate a financial data message comprising content representative thereof; a third logic component operative to receive the financial data message and generate, for each market participant having preference data stored in association therewith in the memory, a modified financial data message in accordance with the associated preference data; and a fourth logic component operative to transmit each modified financial data message to the market participant for which the modified data message was generated, and transmit the financial data message to the others of the plurality of market participants.