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Ingalys' trading platform allows
a variety of extra services to be added to the architecture with no
impact on the applicative layer. These services can be divided in
several categories:
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Load
balancing:
distribute orders over several connections to maximize throughput |
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Throttling
& batching:
adjust throughput to limits imposed by the exchange |
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Dynamic
order routing:
route orders according to business rules (by user, instrument, market
etc.) |
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Exchange
aggregation:
make several exchanges appear as a single one |
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Exchange
virtualization:
assemble bits of several connections together to build a virtual
exchange (eg. send orders via a connection, quote requests via another,
receive market data from other ones, switch market data source
dynamically) |
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Order
validation:
check orders before they are sent to the exchange (prevent
“fat finger” errors, control user or group position
on any instrument, raise an alert when some limits are reached, etc.) |
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Short-sell
management:
automatically flag orders as “short” according to
position for exchanges that require it |
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Smart
orders:
emulate order types not supported by the exchange, or create your own
order types |
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Self-matching
prevention:
reject orders (or raise an alert) when an order is going to hit another
one sent from the same desk |
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Local
execution (MIFID):
execute crossed orders locally instead of on the exchange |
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History:
log all orders and executions and orders in a database |
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Backoffice
fields:
define extra tags that traders (or automated tools) can fill when
sending orders to ease back-office's work. |
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Other:
Monitoring
Failover management
Emergency tools |
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Horizon Trader
