Equities trading and order management platforms consist of two distinct areas that have very different data distribution needs. In the front office, smart order routers and gateways to clients and exchanges all depend on the distribution of market data, orders and trades with extremely low, predictable latency. In the middle office, non-real-time systems responsible for trade data capture, risk management, regulatory reporting and settlement demand guaranteed distribution with the ability to accommodate slow consumers, efficient fanout to many recipients, and fast, reliable disaster recovery.
Solace is uniquely qualified of satisfying all of these requirements with a single unified platform: ultra low latency non-persistent messaging in the front office and high-volume persistent messaging in the back office.
The details of FX trading platform architectures vary from firm to firm, but the general functions and flows are very similar across architectures, consisting of price flows, order flows, trade flows and the distribution of real-time risk data.
Solace’s platform is the ideal foundation for FX trading systems with support for the many kinds of messaging that go into FX trading systems, and the unique ability to maintain low latency even at the very high volumes FX trading demands.
The advent of Single Dealer Platforms (SDP’s) is advancing the state of the art of investment banking by integrating the delivery of pricing, risk and liquidity to traders.
SDPs can be comprised of many and varied application components, the required messaging infrastructure universally needs to support three kinds of messaging: real-time for quote distribution, persistent for order flow, and streaming over the web to rich internet applications.
Solace’s platform is the only solution that satisfies all the data distribution needs of single dealer platforms.
Solace can handle feed distribution to large numbers of systems and subscribers, and serve as a buffer between real-time and near-real-time elements of an exchange’s system. Solace’s high-performance messaging solution meets the data distribution needs of exchanges with best-of-breed performance in a purpose-built appliance that features low, consistent latency.
Interruptions and inconsistency in the supply of market data can cause financial firms to lose as much money in a few minutes as they usually make in as many days. Market data needs to quickly flow from exchange feeds to the systems and people that need it with no outages, even through periods of extreme volume or volatility.
Solace’s solution can route market data to many subscribers with low, consistent latency thanks to routing and filtration that are executed entirely in hardware. Solace’s use of discrete TCP-based client connections eliminates the two most common problems with multicast: slow consumers impacting other subscribers or the system as a whole, and clients wasting valuable CPU cycles filtering unwanted data.