Order ID Mapping for Priority Match Processing Feeds
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Solution Overview
Problem
Existing data structures, processing algorithms, and networking techniques in electronic exchange computing systems often become incompatible with newly desired application features, leading to inefficiencies and potential disruption of dependent applications when integrating new functionality.
Innovation Solution
Implement a real-time market data feed that includes indications of order priority and generates new order IDs for priority orders, allowing for priority trading modes while maintaining separate internal and external order IDs for efficient processing and update transmission.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If new functionality is integrated into existing electronic exchange systems, then system adaptability is improved, but system complexity and compatibility issues increase
Solution Approach 1:
The patent segments the order ID system into two distinct components: internal order IDs for processing and external order IDs for communication. This segmentation allows the system to independently manage internal processing requirements while maintaining compatibility with external applications, thereby improving adaptability without proportionally increasing overall system complexity.
Solution Approach 2:
The patent introduces an intermediary mapping mechanism between internal and external order IDs. This intermediary layer acts as a buffer that translates between internal processing requirements and external communication protocols, allowing new functionality to be integrated without directly impacting existing system components or external applications.
2Adaptability or versatility
If new features are integrated into electronic exchange systems, then system versatility is improved, but compatibility with dependent applications deteriorates
Solution Approach 1:
The patent inverts the traditional approach by having the system generate external order IDs based on internal order IDs, rather than having external applications provide IDs that the system must accommodate. This inversion allows the system to maintain control over ID generation and mapping, ensuring that new features can be implemented internally without disrupting external application compatibility.
Solution Approach 2:
The mapping mechanism serves as an intermediary that shields dependent applications from internal system changes. When new features are integrated, the intermediary layer absorbs the changes internally while maintaining the same external interface, thereby preserving application compatibility despite increased system versatility.
3Productivity
If separate internal and external order IDs are used, then processing efficiency is improved, but data structure complexity increases
Solution Approach 1:
The patent creates a simplified copy of the order ID system for external communication. Instead of using complex internal data structures directly in external communications, the system generates simplified external order IDs that replicate the necessary functionality. This copying approach maintains processing efficiency while reducing the complexity of data structures that need to be managed simultaneously.
Solution Approach 2:
The mapping mechanism serves multiple functions: it translates between internal and external IDs, maintains uniqueness guarantees, enables efficient lookups, and supports new feature integration. By consolidating these multiple functions into a single universal component, the patent avoids the need for separate complex data structures for each function, thereby improving processing efficiency without proportionally increasing overall data structure complexity.
Data Source
AI summary
An electronic exchange computing system is provided that includes a computer storage system, at least one transceiver, and a processing system. The storage system stores an electronic order book. The transceiver receives data transaction requests and transmits messages of an electronic data feed. The processing system determines that a first order has priority and generates a new order ID for the first order. The first order is maintained in the electronic order book (e.g., with a quantity of 0). Additional order instructions are received from a client computer system and are associated with the first order. A match is found based on the additional order instructions. A data feed update message is generated and transmitted as part of a real-time data feed and includes the newly generated order ID for the first order.