Distributed server side device architecture
An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.
1. An electronic trading device comprising:
a user input device configured to receive a trading strategy order having a plurality of quoting legs and at least one hedge leg;
an electronic processor coupled with the user input device and configured to determine that the trading strategy order includes the plurality of quoting legs, where in response to a determination that the trading strategy order includes the plurality of quoting legs, the electronic processor generates a number of child orders, where each child order includes a number of child quoting legs less than a number of the plurality of quoting legs of the trading strategy order, and where the electronic processor further is configured to generate the number of the child orders and the number of child quoting legs for each child order based on any one of latency, physical location of a server side device, physical location of an exchange system, and exchange capabilities; and
an order router coupled with the electronic processor and the user input device, where the order router is configured to submit the number of child orders for matching.
2. The electronic trading device of claim 1 where the number of child orders include a first child order and a second child order, the first child order being submitted to a first exchange system for matching and the second child order being submitted to a second exchange system for matching.
3. The electronic trading device of claim 2 where the first exchange system is different than the second exchange system.
4. The electronic trading device of claim 2 wherein the first child order and the second child order each comprise one quoting leg.
5. The electronic trading device of claim 2 where the order router is configured to transmit the first child order to a first server side device physically proximate the first exchange system and transmitting the second child order to a second server side device physically located proximate the second exchange system.
6. The electronic trading device of claim 5 where the first server side device is different than the second server side device.
7. The electronic trading device of claim 5 where the first server side device works the first child order at the first exchange system and the second server side device works the second child orders at the second exchange system.
8. A nontransitory computer readable medium having instructions stored thereon which when executed by a processor, cause the processor to carry out acts comprising:
receiving, by a trading strategy device, a parent trading strategy order including a plurality of quoting legs and at least one hedge leg;
splitting, by the trading strategy device, the parent trading strategy order into a number of child orders, wherein each child order of the number of child orders includes a child trading strategy having a child quoting leg and at least one child hedge leg, wherein a number of child quoting legs for a child trading strategy is different than a number of parent quoting legs of the parent trading strategy, and where the number of the child orders and the number of child quoting legs for each child order are determined based on any one of latency, physical location of a server side device, physical location of an exchange system, trader preference, and exchange capabilities; and
submitting, by the trading strategy device, each of the number of child orders to one or more exchange systems adapted to fill the child quoting legs in the child orders.
9. The nontransitory computer readable medium of claim 8 where splitting includes determining whether the parent trading strategy order includes the plurality of quoting legs.
10. The nontransitory computer readable medium of claim 9 where splitting includes defining child trading strategies and generating the number of child orders, wherein the child orders are for one or more of the child trading strategies.
11. The nontransitory computer readable medium of claim 8 where the one or more exchange systems include a first exchange system and a second exchange system.
12. The nontransitory computer readable medium of claim 8 where splitting the parent trading strategy occurs prior to the parent trading strategy being transmitted to a first exchange system in the one or more exchange systems.
13. An electronic trading device comprising:
a user input device configured to receive a parent trading strategy order including a plurality of quoting legs and at least one hedge leg;
an electronic processor coupled with the user input device and configured to split the parent trading strategy order into a number of child orders, where each child order of the number of child orders includes a child trading strategy having a child quoting leg and at least one child hedge leg, a number of child quoting legs for a child trading strategy being different from a number of parent quoting legs of the parent trading strategy, and where the number of the child orders and the number of child quoting legs for each child order are determined based on any one of latency, physical location of a server side device, physical location of an exchange system, trader preference, and exchange capabilities; and
an order router coupled with the electronic processor and the user input device, where the order router is configured to submit each of the number of child orders to one or more exchange systems adapted to fill the child quoting legs in the child orders.
14. The electronic trading device of claim 13 where splitting includes determining whether the parent trading strategy order includes the plurality of quoting legs.
15. The electronic trading device of claim 14 where splitting includes defining child trading strategies and generating the number of child orders, wherein the child orders are for one or more of the child trading strategies.
16. The electronic trading device of claim 13 where the one or more exchange systems include a first exchange system and a second exchange system.
17. The electronic trading device of claim 13 where splitting the parent trading strategy occurs prior to the parent trading strategy being transmitted to a first exchange system in the one or more exchange systems.