Switching layer for trading on global markets
Techniques for managing and routing market orders across a global trading system. Each trading node can be associated with one or more markets and each node can be configured to provide market access to each market associated with a node in the system. Each trading node can be connected, via a network, to a global switching layer. The global switching layer can route requests, such as orders and the like, from an end user associated with one of the plurality of nodes to a corresponding exchange or market. The global switching layer can be configured to dynamically provide, to each end user, a user interface element corresponding to each trading node.
1. A system for managing and routing market orders across a plurality of trading nodes, comprising:
a first trading node communicatively coupled to a first exchange, comprising a storage device having stored thereon one or more configuration files corresponding to the first exchange's functionality, the first trading node adapted to receive and manage orders corresponding to the first exchange, and including authenticated passwords and security to manage connections from one or more user devices;
at least a second trading node communicatively coupled to a second exchange, comprising a storage device having stored thereon one or more configuration files corresponding to the second exchange's functionality, the second trading node adapted to receive and manage orders corresponding to the second exchange, and including authenticated passwords and security to manage connections from one or more user devices;
a switching layer, communicatively coupled to the first trading node and the second trading node, adapted to:
identify data from one or more of the configuration files of the first or second trading node in response to a request from one or more user devices;
route said data to the one or more user devices in response to the request; receive market order requests, generated by the user devices using the data from the one or more configuration files of the first or second trading node;
route the market order requests to the first or second trading nodes based on a unique location code extracted from an order or trade identifier or based on an exchange identifier extracted from an instrument identification code;
receive, from one or more end user devices, a message indicating the current dialog displayed; transmit, to one or more end user devices, an indication of a new dialog associated with one or more trading nodes; receive, from one or more end user devices, a request for a configuration corresponding to the new dialog; and receive, from a dialog server associated with one or more trading nodes, information about said configuration of said one or more trading nodes;
determine one or more trading nodes on which to create one or more synthetic strategies, wherein the one or more synthetic strategies are created in the one or more trading nodes closest to one or more trading exchanges on which each of the one or more synthetic strategies will be traded; and
produce a combined result set for transmission to one or more end user devices in response to one or more queries, the combined result set including one or more sets of regional dialogs generated by one or more trading nodes; and
a global data architecture component communicatively coupled to the switching layer, adapted to provide, to one or more end user devices, a user interface element corresponding to each of the one or more trading nodes, wherein the global switching layer is further configured to store and communicate common data, including data related to currencies, countries, exchanges, and customers, to one or more trading nodes.
2. The system of claim 1 ,
wherein the switching layer is adapted to identify the data from the one or more configuration files of the first or second trading nodes by extracting instrument identification codes or location identification codes from the request.
3. The system of claim 1 ,
wherein the switching layer is further adapted to transform the data from one or more of the configuration files of the first or second trading node into a predetermined format which is readable by the one or more user devices.
4. The system of claim 3 ,
wherein the predetermined format is an eXtensible Markup Language.
5. The system of claim 1 ,
wherein at least one of the configuration files of the first or second trading nodes includes data for rendering a generic order dialog at the one or more user devices.
6. The system of claim 1 ,
wherein at least one of the configuration files of the first trading node includes data for rendering an order dialog having fields corresponding to a particular financial instrument.
7. The system of claim 1 ,
wherein at least one of the configuration files of the first trading node includes data for rendering an order dialog having fields corresponding to the functionality of the first exchange.
8. The system of claim 1 ,
wherein the switching layer is further adapted to route market order requests corresponding to the first exchange to the first trading node and route market order requests corresponding to the second exchange to the second trading node.
9. The system of claim 8 , further comprising the global data architecture component storing instrument identification codes and location identification codes corresponding to markets for financial instruments on the first and second exchanges.
10. The system of claim 9 ,
wherein the switching layer is further adapted to route market order requests using the global data architecture component by extracting instrument identification codes or location identification codes from the market order requests.
11. The system of claim 8 ,
wherein the switching layer is further adapted to receive queries to view orders and trades from the one or more end user devices, route the queries to each of the first and second trading nodes, and combine results received from the first and second trading nodes to provide a single result set for the one or more end user devices.
12. The system of claim 11 ,
wherein the switching layer is adapted to route the queries to the first and second trading nodes using the global data architecture component by extracting instrument identification codes or location identification codes from the queries.
13. A method for managing and routing market orders across a plurality of trading nodes, comprising:
storing one or more configuration files corresponding to a first exchange's functionality at a first trading node;
storing one or more configuration files corresponding to a second exchange's functionality at a second trading node;
identifying, at a switching layer, data from one or more of the configuration files of the first or second trading node in response to a request from one or more user devices;
routing, with the switching layer, said data to the one or more user devices in response to the request;
receiving, at the switching layer, market order requests generated by the user devices using the data from the one or more configuration files of the first or second trading node; and
routing, with the switching layer, the market order requests to the first or second trading nodes based on a unique location code extracted from an order or trade identifier or based on an exchange identifier extracted from an instrument identification code;
receiving, at the switching layer, from one or more end user devices, a message indicating the current dialog displayed; transmitting, to one or more end user devices, an indication of a new dialog associated with one or more trading nodes; receiving, from one or more end user devices, a request for a configuration corresponding to the new dialog; and receiving, from a dialog server associated with one or more trading nodes, information about said configuration of said one or more trading nodes;
determining, by the switching layer, one or more trading nodes on which to create one or more synthetic strategies, wherein the one or more synthetic strategies are created in the one or more trading nodes closest to one or more trading exchanges on which each of the one or more synthetic strategies will be traded;
producing, by the switching layer, a combined result set for transmission to one or more end user devices in response to one or more queries, the combined result set including one or more sets of regional dialogs generated by one or more trading nodes; and
providing, with a global data architecture component communicatively coupled to the switching layer, to one or more end user devices, a user interface element corresponding to each of the one or more trading nodes, wherein the global switching layer is further configured to store and communicate common data, including data related to currencies, countries, exchanges, and customers, to one or more trading nodes.
14. The method of claim 13 ,
wherein identifying the data from the one or more configuration files of the first or second trading nodes includes extracting instrument identification codes or location identification codes from the request.
15. The method of claim 13 , further comprising transforming, at the switching layer, the data from one or more of the configuration files of the first or second trading node into a predetermined format which is readable by the one or more user devices.
16. The method of claim 15 ,
wherein the predetermined format is an eXtensible Markup Language.
17. The method of claim 13 ,
wherein at least one of the configuration files of the first or second trading nodes includes data for rendering a generic order dialog at the one or more user devices.
18. The method of claim 13 ,
wherein at least one of the configuration files of the first trading node includes data for rendering an order dialog having fields corresponding to a particular financial instrument.
19. The method of claim 13 ,
wherein at least one of the configuration files of the first trading node includes data for rendering an order dialog having fields corresponding to the functionality of the first exchange.
20. The method of claim 13 , further comprising routing market order requests corresponding to the first exchange to the first trading node and route market order requests corresponding to the second exchange to the second trading node.
21. The method of claim 20 , further comprising storing, using the global architecture component at a server, instrument identification codes and location identification codes corresponding to markets for financial instruments on the first and second exchanges.
22. The method of claim 21 , further comprising extracting instrument identification codes or location identification codes from the market order requests and routing market order requests using the global data architecture component.
23. The method of claim 20 , further comprising receiving queries to view orders and trades from the one or more end user devices, routing the queries to each of the first and second trading nodes, and combining results received from the first and second trading nodes to provide a single result set for the one or more end user devices.
24. The method of claim 23 ,
wherein routing the queries to the first and second trading nodes includes extracting instrument identification codes or location identification codes from the queries and routing the queries using the global data architecture component.