Abstract: In order to protect a trading party from predatory trading strategies employed by some market participants, especially during certain periods when quotes for a particular security are experiencing rapid changes or transitions, embodiments of the present invention facilitate and support a new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions. Pursuant to predefined rules for the new type of trading orders, the orders may be allowed to trade at more aggressive price levels if the market is relatively stable, and the orders can only trade at less aggressive price levels when the market is unstable.

Abstract: A Data Synchronization and Failover Management (DSFM) system monitors simultaneous execution of non-identical instances of a software application and may label as a particular result of the software application the earliest output corresponding to that result produced by one of the instances. The DSFM may label one of the instances as a primary instance and the other instances as secondary instances and, if the primary instance fails, may re-label one of the secondary instances that computed all of the operations associated with the last result produced prior to the failure of the primary instance, as a new primary instance.

Abstract: Embodiments of the present invention may provide an improved distributed computing system. Entities in the distributed computing system may be divided into four categories: writers, readers, gateways, and applications. End users may interact with the system via the applications through the gateways. The role of writers and readers may be separated to distribute computational burdens. Writers may generate messages for an event stream. The messages may include a timestamp for consistent global ordering. The readers may arrange messages from various writers based on the timestamps to generate globally time-consistent event streams.

Abstract: A specialized memory structure is provided for storing parts of orders received at an electronic trading system. A received order is divided into a displayed portion and a non-displayed portion, and each portion is allocated to a respective part of the memory structure. The memory structure is configured such that while matching the order with a contra order, priority is given to the displayed portion over the non-displayed portion. If such a match occurs, the displayed portion may be replenished. The matching in the non-displayed portion generally occurs according to rules of applying discretion. The matching in the displayed portion may occur at the displayed price or according to the rules of discretion.

Abstract: Embodiments of the present invention may provide an improved distributed computing system. Entities in the distributed computing system may be divided into four categories: writers, readers, gateways, and applications. End users may interact with the system via the applications through the gateways. The role of writers and readers may be separated to distribute computational burdens. Writers may generate messages for an event stream. The messages may include a timestamp for consistent global ordering. The readers may arrange messages from various writers based on the timestamps to generate globally time-consistent event streams.

Abstract: A specialized memory structure is provided for storing parts of orders received at an electronic trading system. A received order is divided into a displayed portion and a non-displayed portion, and each portion is allocated to a respective part of the memory structure. The memory structure is configured such that while matching the order with a contra order, priority is given to the displayed portion over the non-displayed portion. If such a match occurs, the displayed portion may be replenished. The matching in the non-displayed portion generally occurs according to rules of applying discretion. The matching in the displayed portion may occur at the displayed price or according to the rules of discretion.

Abstract: Embodiments of the present invention may provide an improved distributed computing system. Entities in the distributed computing system may be divided into four categories: writers, readers, gateways, and applications. End users may interact with the system via the applications through the gateways. The role of writers and readers may be separated to distribute computational burdens. Writers may generate messages for an event stream. The messages may include a timestamp for consistent global ordering. The readers may arrange messages from various writers based on the timestamps to generate globally time-consistent event streams.

Abstract: A Data Synchronization and Failover Management (DSFM) system monitors simultaneous execution of non-identical instances of a software application and may label as a particular result of the software application the earliest output corresponding to that result produced by one of the instances. The DSFM may label one of the instances as a primary instance and the other instances as secondary instances and, if the primary instance fails, may re-label one of the secondary instances that computed all of the operations associated with the last result produced prior to the failure of the primary instance, as a new primary instance.

Abstract: In order to protect a trading party from predatory trading strategies employed by some market participants, especially during certain periods when quotes for a particular security are experiencing rapid changes or transitions, embodiments of the present invention facilitate and support a new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions. Pursuant to predefined rules for the new type of trading orders, the orders may be allowed to trade at more aggressive price levels if the market is relatively stable, and the orders can only trade at less aggressive price levels when the market is unstable.

Abstract: A Data Synchronization and Failover Management (DSFM) system monitors simultaneous execution of non-identical instances of a software application and may label as a particular result of the software application the earliest output corresponding to that result produced by one of the instances. The DSFM may label one of the instances as a primary instance and the other instances as secondary instances and, if the primary instance fails, may re-label one of the secondary instances that computed all of the operations associated with the last result produced prior to the failure of the primary instance, as a new primary instance.

Abstract: In order to protect a trading party from predatory trading strategies employed by some market participants, especially during certain periods when quotes for a particular security are experiencing rapid changes or transitions, embodiments of the present invention facilitate and support a new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions. Pursuant to predefined rules for the new type of trading orders, the orders may be allowed to trade at more aggressive price levels if the market is relatively stable, and the orders can only trade at less aggressive price levels when the market is unstable.

Abstract: In a system for processing transactions, a received request for a transaction is either placed in a meta-queue or placed in a priority-parameter-based queue, depending on whether the request was received while the meta-queue was open. The transaction requests placed in the priority-parameter-based queue are processed only after all requests in the meta-queue are completely processed, and the requests in the priority-parameter-based queue are generally processed in the order of time of arrival of the requests. The requests in the meta-queue are not prioritized solely on the basis of the time of arrival, and may be selected for processing based on one or more request parameters, which can include the time of arrival. A selected portion of several or all requests in the meta-queue may be processed before processing another portion of one or more requests.

Abstract: A specialized memory structure is provided for storing parts of orders received at an electronic trading system. A received order is divided into a displayed portion and a non-displayed portion, and each portion is allocated to a respective part of the memory structure. The memory structure is configured such that while matching the order with a contra order, priority is given to the displayed portion over the non-displayed portion. If such a match occurs, the displayed portion may be replenished. The matching in the non-displayed portion generally occurs according to rules of applying discretion. The matching in the displayed portion may occur at the displayed price or according to the rules of discretion.

Abstract: Embodiments of the present invention may provide an improved distributed computing system. Entities in the distributed computing system may be divided into four categories: writers, readers, gateways, and applications. End users may interact with the system via the applications through the gateways. The role of writers and readers may be separated to distribute computational burdens. Writers may generate messages for an event stream. The messages may include a timestamp for consistent global ordering. The readers may arrange messages from various writers based on the timestamps to generate globally time-consistent event streams.

Abstract: Embodiments of the Message Retransmission Mechanism Apparatuses, Methods and Systems (“MRM”) transform application requests for message journals via MRM components into expedited access to segmented message streams. In one implementation, the MRM may obtain message journal of messages written by applications during system operations and divide up the message obtained from the complete message journal into message segments. In some implementations, the MRM may provide recovering applications access to said message segments for expedited message consumption.

Abstract: In order to protect a trading party from predatory trading strategies employed by some market participants, especially during certain periods when quotes for a particular security are experiencing rapid changes or transitions, embodiments of the present invention facilitate and support a new type of trading orders whose booking and execution behaviors are dynamically varied in response to environmental market conditions. Pursuant to predefined rules for the new type of trading orders, the orders may be allowed to trade at more aggressive price levels if the market is relatively stable, and the orders can only trade at less aggressive price levels when the market is unstable.

Abstract: A Data Synchronization and Failover Management (DSFM) system monitors simultaneous execution of non-identical instances of a software application and may label as a particular result of the software application the earliest output corresponding to that result produced by one of the instances. The DSFM may label one of the instances as a primary instance and the other instances as secondary instances and, if the primary instance fails, may re-label one of the secondary instances that computed all of the operations associated with the last result produced prior to the failure of the primary instance, as a new primary instance.

Abstract: Embodiments of the Message Retransmission Mechanism Apparatuses, Methods and Systems (“MRM”) transform application requests for message journals via MRM components into expedited access to segmented message streams. In one implementation, the MRM may obtain message journal of messages written by applications during system operations and divide up the message obtained from the complete message journal into message segments. In some implementations, the MRM may provide recovering applications access to said message segments for expedited message consumption.

Abstract: A computer-implemented method and apparatus for releasing a data item having an identifier for transaction processing in a data transaction processing system in which data items are transacted by a hardware matching processor that matches electronic data transaction request messages for the same one of the data items based on multiple transaction matching parameters from client computers over a data communication bus. A restriction on the hardware matching processor from processing electronic data transaction request messages for the data item is detected. A hardware data processor determines a variability in one of the transaction matching parameters for the data item. The determined variability is compared to a variability threshold established for the data item, and an adjusted one transaction matching parameter of the data item is calculated based on the determined variability.

Abstract: Amongst other things, a computer implemented method for releasing a security for trading in a trading venue includes determining volatility in prices of quotations for a security before the security is released for trading; comparing the determined volatility to a volatility threshold; calculating an adjusted price of the quotations based on the output of the determined volatility in the prices; sending a message to release the security for trading, with the security having the adjusted price that is based on the outcome of comparing.