Market Data Redaction Tools for Secure Trading Interface Sharing
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Solution Overview
Problem
Existing electronic trading systems face challenges in securely sharing market data between trading devices while adhering to distribution rules set by exchanges, which restrict access to certain price feed data.
Innovation Solution
The implementation of market data redaction tools and methods that automatically identify and redact restricted or sensitive data fields in real-time, based on access restrictions, before sharing the interface between trading devices.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If market data is shared between trading devices, then data accessibility and collaboration are improved, but distribution rules and access restrictions are violated
Solution Approach 1:
The system performs preliminary identification of restricted data fields and applies redaction before the market data is transmitted or shared between devices. This preventive approach ensures compliance with distribution rules is built into the sharing process itself, allowing data accessibility while maintaining rule adherence.
Solution Approach 2:
The patent introduces an intermediary redaction layer between the source market data and the receiving devices. This intermediary component analyzes data against distribution rules, identifies restricted fields, and applies selective redaction, thereby mediating between the need for data sharing and the requirement to comply with access restrictions.
2Loss of information
If all market data is transmitted to sharing devices, then data completeness is improved, but unauthorized access to restricted data occurs
Solution Approach 1:
The system applies different treatment to different parts of the market data based on their access authorization status. Authorized data fields are transmitted in full detail, while restricted data fields are selectively redacted or masked. This local differentiation maintains data completeness for permitted information while preventing unauthorized access to restricted portions.
Solution Approach 2:
The patent segments market data into authorized and restricted portions based on distribution rules. By dividing the data stream into identifiable fields and applying selective redaction logic, the system transmits complete authorized data while isolating and protecting restricted data segments, thus maintaining overall data utility without enabling unauthorized access.
3Manufacturing precision
If manual redaction of restricted data is performed, then compliance accuracy is improved, but operational efficiency deteriorates
Solution Approach 1:
The system implements automated identification and redaction of restricted data fields using computer-implemented logic that operates without manual intervention. The automated process analyzes market data against distribution rules, identifies restricted fields, and applies redaction automatically, thereby maintaining high compliance accuracy while eliminating the time and labor costs associated with manual redaction processes.
Solution Approach 2:
The patent replaces manual mechanical redaction processes with an automated computer-based system. Instead of human operators manually identifying and redacting restricted data, the system uses automated logic and algorithms to perform these functions, substituting mechanical human labor with an efficient automated process that maintains accuracy while dramatically improving operational speed and efficiency.
Data Source
AI summary
An example method includes receiving, at a first computing device, market data related to a plurality of tradeable objects. The example method includes displaying, via an interface, the received market data via at the first computing device. The interface is based on an interface object model including a plurality of data components corresponding to the received market data. The example method includes receiving an input selection to share the interface with a second computing device and generating a transfer object model based on the interface object model in response to the receipt of the input selection. The example method includes identifying a first group of the plurality of data components included in the transfer object model and redacting the first group of the plurality of data components corresponding to the received market data components. The example method includes transmitting the redacted transfer object model to the second computing device.