Market Triggers

An ultra low latency system with a Tick-to-Trade latency of sub-microsecond.

Market Triggers is a hardware-based trade execution solution, built using FPGA technology, targeting sub-microsecond latency execution of trigger conditions provided by trading strategies residing on software.
Market Triggers achieve less than 300 nanosecond wire-to-wire latency by receiving market data directly into FPGA from the wire, and on trigger, placing orders to the Exchange’s Order Gateway.

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Key Components

Feed Handler

        • Network related processing for communication with Exchange’s Market data gateway.
        • Security based filtering consolidation.
        • Message parsing.

Trigger Handler

        • Maintains and executes the Trigger conditions .
        • When Trigger conditions are met, it instructs the RMS for Order placement.

MT API

        • It allows trader to communicate Market Trigger conditions and corresponding order actions, at run time.
        • It is also used for communicating to the host, the Notifications in event of trigger, and Trade & Order Response.

Risk Management System [RMS]

        • RMS ensures the compliance with risk management requirements for the orders sent to Exchange.

Order Handler

        • TCP related processing for interactive communication with Exchange’s Order Gateway.
        • Ensures throttling.
        • Message processing & parsing operations.

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