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High-Performance FPGA Applications

Level II Market Data Feed Handler

The ArchES Level II Market Data Feed Handler is an ultra low-latency FPGA-based feed handler. All protected Canadian marketplaces are supported. The Feed Handlers natively support multi-line arbitration, recovery for dropped packets, detailed logging, as well as an interactive runtime management console. The events which trigger BBOs, as well as the BBO output format are highly configurable.

Consolidated NBBO

The NBBO platform is an extension to the Level II Market Data Feed Handler system providing a consolidated view of the Canadian marketplace. It processes all exchange-specific BBO messages and notifies users when a NBBO trigger has been activated.

Custom Trading FPGA Platform.

The Custom Trading FPGA Platform is a fully-integrated trading system on chip. High-speed networking, market data feeds, FIX connectivity, and core strategy blocks are all embedded directly on the FPGA. End users specify the structure of the trading algorithm, but retain control of the exact runtime implementation.

Risk Engine

The ArchES Risk Engine is a FPGA-based Risk Engine that continuously monitors all submitted and executed orders to assess risk exposure in real-time. A configurable set of rules and the current market conditions are evaluated against every received order. Whenever a rule violation is detected, the order is immediately rejected back to the issuer. Arbitrary levels of logging are provided, as is an interactive runtime monitoring and management console.

Smart Order Router

The ArchES Smart Order Router is a FPGA-based SOR that intelligently routes orders to one or more destination exchanges based on current market conditions and a configurable set of user-defined routing rules. The SOR integrates the Level II Market Data Feed Handler, NBBO, and Risk Engine to provide an extremely low-latency, realtime routing solution. Detailed logging and an interactive runtime monitoring and management console is provided.