Abstract: Brokerage transactions servers and related methods are provided having low latency. In a first embodiment of the invention there is provided a method of processing exchange transaction information for exchange brokerage purposes in an inbound digital message stream in a first protocol dialect. One embodiment utilizes canonical FIX messages for processing purposes. A related embodiment includes, for each message in the stream, storing in memory each successive change made to the message and any metadata created by the foregoing processes; and in an encapsulation process, accessing memory and creating an encapsulated version of the message that includes: (i) the message in original form prior to the receiver process, (ii) the metadata, and (iii) each successive change made to the message by any of the foregoing processes.

Abstract: A network enables a plurality of servers to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. If a trading limit is exceeded, a server may automatically change to a less permissive trading mode, prevent an order being placed with the at least one exchange server and/or enter a trading mode in which orders that decrease account exposure are allowed and orders that increase account exposure are prevented.

Abstract: A post-trade monitor receives feedback in the form of drop copy messages from an exchange server and validates orders placed with the exchange server by a sponsored access trading platform shortly after the orders have been placed. If a recently placed order is found to violate a rule or regulation, the monitor instructs the trading platform to change to a more restrictive trading mode, such as to cease placing all orders or certain types of orders, at least until certain parameters are met.

Abstract: A network enables a plurality of servers to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. If a trading limit is exceeded, a server may automatically change to a less permissive trading mode, prevent an order being placed with the at least one exchange server and/or enter a trading mode in which orders that decrease account exposure are allowed and orders that increase account exposure are prevented.

Abstract: A network enables monitors, trading platforms and libraries to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. A low-latency interface between a customer server, such as a server that employs algorithmic trading methods to generate buy and sell orders for securities, and a brokerage server that validates such securities trading orders is optimized for handling the securities trading orders. The interface supports a trading command set specifically designed for orders from customer trading application programs, and the interface formats received trading commands into compact messages that are sent over a high-speed communication link to the brokerage server. The interface receives order acknowledgement messages and the like from the brokerage server and invokes callback routines in the customer trading application program to report status information.

Abstract: A network enables monitors, trading platforms and libraries to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities. A low-latency interface between a customer server, such as a server that employs algorithmic trading methods to generate buy and sell orders for securities, and a brokerage server that validates such securities trading orders is optimized for handling the securities trading orders. The interface supports a trading command set specifically designed for orders from customer trading application programs, and the interface formats received trading commands into compact messages that are sent over a high-speed communication link to the brokerage server. The interface receives order acknowledgement messages and the like from the brokerage server and invokes callback routines in the customer trading application program to report status information.

Abstract: A post-trade monitor receives feedback in the form of drop copy messages from an exchange server and validates orders placed with the exchange server by a sponsored access trading platform shortly after the orders have been placed. If a recently placed order is found to violate a rule or regulation, the monitor instructs the trading platform to change to a more restrictive trading mode, such as to cease placing all orders or certain types of orders, at least until certain parameters are met. A library provides an interface in a sponsored access trading platform between a client application program that generates proposed orders and an exchange server. The library provides pre-trade validation of the orders and sends only validated orders to the exchange server. A network enables monitors, trading platforms and libraries to share information about customers' trading activities and locally recalculate customer trading limits resulting from these trading activities.

Abstract: Brokerage transactions servers and related methods are provided having low latency. In a first embodiment of the invention there is provided a method of processing exchange transaction information for exchange brokerage purposes in an inbound digital message stream in a first protocol dialect. One embodiment utilizes canonical FIX messages for processing purposes. A related embodiment includes, for each message in the stream, storing in memory each successive change made to the message and any metadata created by the foregoing processes; and in an encapsulation process, accessing memory and creating an encapsulated version of the message that includes: (i) the message in original form prior to the receiver process, (ii) the metadata, and (iii) each successive change made to the message by any of the foregoing processes.

Abstract: Brokerage transactions servers and related methods are provided having low latency. A transaction fuser operates to split incoming order flow into multiple independent streams of data, all of which can be processed in parallel without dependencies between them, allowing back-end jobs to process this data in parallel and increase throughput. Multiple transactions that operate on the same data may be “collapsed” into a single transaction, which reflects the final end state of the order.