Yet another matching engine? Yes … or no ! GATElab exchangepath-100µs represents a new generation matching engine for financial marketplaces which sets a new path for reaching high performance, low latency, low set-up and running costs.
The philosophy embraced by exchangepath is to stress the minimum adoption of middleware, software/ communication stack and operating system features, without giving over functionality, usability, flexibility, expandability, resiliency, reliability. All that by using de-facto-standard low-cost hardware and software platform.
So exchangepath-100µs can manage incoming orders, match them and deliver matching results, continuously 24/7, in less than 100 microseconds, at the end-user's gateway, achieving an unbelievable number of transactions and market data on a commodity hardware platform.
"We just thought back to our past experiences when we didn't have so much disk space, memory and CPU power" says Antonio Caroselli, CTO and cofounder of GATElab. "We just chose a good MIX of available hardware and software technologies, we designed a new architecture and re-implemented a new matching platform with the goal to rely on the lowest level of the host operating system, being as close as possible to hardware boards, without ineffectively wasting hardware resources".
Through exchangepath-100µs equity, derivative, fixed income, commodity matching engines can be deployed quickly and cost-effectively, even running simultaneously on the same hardware. Order-driven, quote-driven, hybrid market structures, auctions and continuous phases with standard and complex type of orders can be easily customized.
"Deploying exchangepath-100µs multi-asset matching engines to exchanges and systematic internalisers means a leap-ahead in lowering down transactions fees while increasing functionalities, flexibility, throughput" adds Ferdinando La Posta, Chairman of the Board and co-founder. "Costs are truly important for Financial Institutions, but they must not have to consequently limit their industrial actions. With exchangepath-100µs we want offer a marketplace to maximize their market opportunities while reducing their deployment time and related set-up and running costs".
exchangepath-100µs is deployed onto a standard Linux multi-server RDMA network, without data-base support, providing end-user with a native API or FIX and FAST.