Abstract: An automated trading engine may include one or more market data adaptors configured to convert market data into an intermediate format, and a formula calculation engine in communication with the market data adaptors that is configured to perform one or more calculations using at least a portion of the intermediate format market data, and generate one or more calculation results. An engine may include a condition comparison module that is configured to compare one or more of the received calculation results to one or more values stored within a field programmable gate array chip to generate one or more comparison result values, and an instruction table. An engine may be configured to use one or more of the comparison result values to identify one or more instruction sets and actions from the instruction table, and generate one or more securities orders based on the identified instruction sets and actions.

Abstract: A risk management system may include a client-side optical device, a market-side optical device associated with a marketplace exchange, and a risk processing device in communication with the client-side optical device and the market-side optical device. The risk processing device may include a first media access controller, a second media access controller, and a risk processing unit in communication with the first media access controller and the second media access controller. The client-side optical device may be configured to receive a securities order from a client electronic device, generate a copy of the received securities order, route the securities order to the market-side optical device, and route the copy to the risk processing device. The risk processing device may be configured to determine whether the securities order violates one or more rules, and in response to determining that the securities order violates one or more rules, perform remedial actions.