Abstract: Communication techniques are disclosed for a distributed computing system. The technique may be applied to an inline clearing and settlement messaging protocol whereby a matching engine may issue a transaction request (or settlement request) upon matching a proposed trade, identifying the parties and assets for the trade. A message gateway may validate and transmit the transaction request to a sequencer which sequences the transaction request into a time-accurate event stream so that transaction requests are distributed to relevant parties in chronological order. Each party may respond to the transaction request by simply checking its account to confirm availability of the relevant asset for the proposed trade and issuing a clearance response. The clearance responses form the basis for a transaction response that the message gateway sends to the matching engine to indicate success or failure of the inline clearing and settlement.

Abstract: Communication techniques are disclosed for a distributed computing system. The technique may be applied to an inline clearing and settlement messaging protocol whereby a matching engine may issue a transaction request (or settlement request) upon matching a proposed trade, identifying the parties and assets for the trade. A message gateway may validate and transmit the transaction request to a sequencer which sequences the transaction request into a time-accurate event stream so that transaction requests are distributed to relevant parties in chronological order. Each party may respond to the transaction request by simply checking its account to confirm availability of the relevant asset for the proposed trade and issuing a clearance response. The clearance responses form the basis for a transaction response that the message gateway sends to the matching engine to indicate success or failure of the inline clearing and settlement.