Market Logic Server

Market Logic Server is a universal system, being a basis for any solutions to automate work of brokerage companies, stock exchanges and other financial institutions that provide online trading services.

Architecture

– A distributed architecture increases system reliability due to distribution of functional load among server modules;

– Server modules are based on pipe-line principle ensuring optimal use of hardware and operation system resources, thus server can process a large number of requests per unit of time, which increases stability of server module, making it resistant to overloads;

– A standardized interface to work with databases which ensures that server is independent of the database type;

– Protocols TCP/HTTP/HTTPS are used as a transport layer with optional encryption and user credentials for login into the system;

– Duplex mode to process requests (TCP) to decrease request processing time;

– Authorized service mode for tuning of critical server settings;

– A standardized API based on JSON protocol that provides connection of trading platform with various payment and CRM systems, user web-accounts and other additional applications that extend platform functionality;

– .NET API to access the trading server/ back-office functionality;

– Standardized connection and control interface for communication modules to ensure communication between platform and liquidity providers (LP Bridges);

– Standardized connection and control interface for communication modules to ensure communication between platform and payment systems (Payment System Bridges);

– Specialized subsystem for rapid registration of new user accounts with the possibility to credit automatically initial balance to a trading account.

Trading core

– Two-stage pipeline ensures request processing time of no more than 20 microseconds;

– Orders Matching Engine allows doing selective comparison which does not affect the execution speed;

– Protection against orders execution with too large spreads;

– Support of unlimited number of market makers with the ability to manage providers in real time;

– Markups are supported

– Flat and step commissions, both for the exposed, and for traded volume;

– Market-maker liquidity protection from external arbitration;

– Support of Immediate-Or-Cancel and Fill-Or-Kill execution;

– Support of All-Or-None execution, not allowing partial execution of trading orders;

– Support of a guaranteed and complete execution of Stop orders with protection against large spreads;

– Trailing stop can be handled by server.

Trading dealer/risk control module

– Calculation models for tools/full exposure, which facilitates generation of large traded volume with small deposit, providing at the same time an effective protection against negative balance;

– Flat and stepped margin settings, separate settings for initialization and maintenance margin;

– PreMarket trading mode that protects B-Book liquidity against false comparisons at non-market prices at session opening and closing;

– Rollback of incorrect transactions;

– Internal clearing between trading accounts, automatic mechanism platform of drawing total accounting balance;

– Various realized profit conversion modes at market or pre-set rates;

– A multi-level system of access to multiple accounts. (Multi Account Management);

– Batch requests processing for closure/netting of positions and cancellation of set trade orders;

– Close positions with double volume for a reverse;

– Various modes of positions balancing;

– Full or partial Stop Out in case of insufficiency of maintenance margin.

Trade orders router

– LimitMarket and Stop orders placement on an external trading platform (A-book) or on internal order matching engine (B-book);

– Proxy trading mode;

– Simultaneous operation mode (A + B) with the ability to instantly switch trading orders sending them either to external trading marketplaces or to internal order matching engine;

– A flexible access control mechanism manages access to external trading platform or internal order matching engine;

– Market data consolidation and distribution mechanism uses a subsystem for storage and distribution of information (servers with market and historical data storage).

Trade reports

– Static and interactive reports;

– Reports on executed transactions;

– Trading operations of users;

– Traded volumes;

– Balance report;

– Possibility to generate additional reports.

Personal Information

– Dedicated server for users’ personal data storage with option of a shared usage distributed among several trading solutions;

– Additional system for personal data and user files encryption, using software or hardware data protection solutions;

– Server protection of locally stored user passwords;

– Possibility of external authentication when accessing the trading platform.

See also:

Market Logic BackOffice