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Distributed ranking and matching of messages

a message and message technology, applied in the field of distributed ranking and matching of messages, can solve the problems of affecting the performance of the system, affecting the processing of data, and putting a lot of pressure on the computer system that needs to handle all the messages, and achieves the effect of reducing latency and high throughput of messages

Inactive Publication Date: 2009-07-16
OMX TECH
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

"The present invention provides a computer system for managing order / quote messages in an electronic exchange system. The system includes a ranking unit that ranks order / quote messages based on various parameters such as price, time, volume, participant type, client category, and yield. The ranked messages are then sent to a matching unit for further processing. The system is designed to improve performance by separating the matching unit from the ranking unit, which allows for faster processing in the matching unit. The technical effects of the invention include faster processing, increased throughput, lower latency, and minimized load on the matching unit."

Problems solved by technology

Thus, the massive amount of data messages sent in to the exchanges has put a lot of pressure on the computer system that needs to handle all the messages.
As mentioned before a problem with the known electronic exchange systems is that they have a hard time to keep up with the massive amount of messages and thus constitutes a bottleneck which puts a limitation on the performance of the system.
Thus, a problem with prior art systems is that they have a low trough put.
Another problem with the prior art systems is that they have high latency.

Method used

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  • Distributed ranking and matching of messages
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Embodiment Construction

[0067]The invention will now be explained in detail with reference to the figures.

[0068]FIG. 1 shows an embodiment of an electronic exchange according to the present invention. The electronic exchange is used for trading in financial instruments. The electronic exchange preferably comprises a matching unit 1 (MU), two ranking units 2 (RU) and an input mechanism 3. Furthermore the electronic exchange is connected to a number of external devices 4, terminals that are used by the users or traders connected to the electronic exchange via gateways (GW) so as to receive information about the market via a display 11 and to add information (mainly sending in orders) to the market via input means 12. Preferably the external computer devices comprise trading applications that are used by traders to send in orders to the electronic exchange. In one embodiment the ranking units 2 may comprise consolidators 7 for consolidating messages.

[0069]In the figure only gateways are mentioned, however oth...

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Abstract

A method for managing messages in a computer system is described. The method comprising the steps of; receiving a plurality of order / quote messages via an input mechanism, ranking the order / quote messages based on the at least one ranking value parameter at a first ranking unit, sending at least one top ranked order / quote message from the first ranking unit to a matching unit, matching the top ranked order / quote messages at the matching unit. A computer system and a processor for inter alia performing the method are also enclosed.

Description

FIELD OF THE INVENTION[0001]The present invention relates to an electronic exchange system, in particular it relates to management of messages in an electronic exchange system.BACKGROUND OF THE INVENTION[0002]The financial industry is one of the most important contributors for a society. For example the financial sector makes it possible for companies to obtain investment money, to secure themselves from different kinds of risk and so forth. A strong financial sector is essential for trade and industry and economical development. In the past ten to twenty years the financial technology has had a very rapid development due to the technological advances in computing technology, transaction technology and information technology. This rapid development has resulted in that more companies and people are connected to these systems. The increase of participants being connected to electronic exchange systems have increased the amount of data messages sent into the system. Furthermore the de...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q40/00G06F17/30G06F17/40
CPCG06Q40/04
Inventor ALTIUS, GORAN
Owner OMX TECH