Market Triggers

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 180 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.

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.