TRANSMISSION LATENCY LEVELING APPARATUSES, METHODS AND SYSTEMS

摘要

Embodiments of the transmission latency leveling apparatuses, methods and systems provide an electronic bidding order management infrastructure, such as a “point-of-presence,” which receives and routes electronic trading orders from different trading entities at a server via a transmission medium to create a certain amount of transmission latency before the trading orders could arrive at and be executed at electronic exchanges to reduce latency arbitrage and/or order book arbitrage that may be experienced by high frequency trading participants. A similar transmission latency may be applied to the egress transmission of market data updates issued by an electronic exchange. Other techniques for facilitating electronic trading are also disclosed.

主权项

1. A computer-implemented method for transmission latency leveling in an electronic trading environment, the method comprising:
coupling a point-of-presence (POP) device to a first market center, such that electronic trading orders to be executed by the first market center are transmitted through said POP device before being received by the first market center, said POP device comprising at least one communication interface; receiving, at said POP device, an electronic trading order to be executed by the first market center; imposing, by said POP device, an additional latency on a transmission of said electronic trading order to the first market center, such that, prior to the first market center receiving or executing said electronic trading order, the first market center has sufficient time to process a market data update which has been generated at a second market center prior to the first market center's receipt of said electronic trading order; and transmitting, by said POP device and after the imposing of said additional latency, said electronic trading order to the first market center for execution.