Single-threaded matching
The matching engine runs single-threaded. No locks. Sub-microsecond latency. Fairness = deterministic ordering.
Advertisement
Single-threaded matching
The matching engine runs single-threaded. No locks. Sub-microsecond latency. Fairness = deterministic ordering.
Advertisement
Price-time priority
Best price wins. Ties broken by arrival time. Order book = sorted structure per side (bids descending, asks ascending).
Order gateway
Handles brokers' order entry. Risk checks (position limits, credit). Sequence stamping. Feeds matching engine.
Market data fan-out
Every trade + book update published to subscribers. Multi-cast within DC. Snapshot + incremental for recovery.
Fairness + audit
Every order + trade timestamped to nanoseconds. Colocation ensures physical fairness. All events logged for regulatory audit.