Abstract: An electronic communication network comprises a server platform and client data processing devices. Each client data processing device is configured to submit electronic messages to the server platform, provided with a timestamp. The server platform is configured to process incoming electronic messages strictly in a sequence corresponding to the timestamp. The electronic communication network comprising at least one switch, wherein the switch is arranged to receive electronic messages from a plurality of the client data processing devices. the switch comprises a buffer and is configured to store the electronic messages produced by the client data processing devices in the buffer, and to transfer the electronic messages in a manner sorted according to the timestamp provided to each electronic message by the time generator of the client data processing device submitting the electronic message, so that the electronic message with the oldest time is transferred first.

Abstract: The invention relates to a stock exchange trading platform for a plurality of trader data processing devices that are in communication connection with the trading platform, wherein the trading platform has a trading platform data processing device (“matcher”), which is able to store orders generated by one of the trader data processing devices in an order book, or to fill a matching order that is already recorded in the order book, at least partially, to acknowledge such received orders to the dispatching trader data processing device, and furthermore, to send messages to a plurality of connected trader data processing devices (in the case of a trading system with equally entitled traders, to everybody) in a broadcast mode. The trading platform is in particular characterized in that a unit of the trading data processing device controlling the optional execution or storing of the orders is configured as a dedicated logic circuit.

Abstract: The invention relates to a stock exchange trading platform for a plurality of trader data processing devices that are in communication connection with the trading platform, wherein the trading platform has a trading platform data processing device (“matcher”), which is able to store orders generated by one of the trader data processing devices in an order book, or to fill a matching order that is already recorded in the order book, at least partially, to acknowledge such received orders to the dispatching trader data processing device, and furthermore, to send messages to a plurality of connected trader data processing devices (in the case of a trading system with equally entitled traders, to everybody) in a broadcast mode. The trading platform is in particular characterized in that a unit of the trading data processing device controlling the optional execution or storing of the orders is configured as a dedicated logic circuit.

Abstract: An electronic communication network comprises a server platform and client data processing devices. Each client data processing device is configured to submit electronic messages to the server platform, provided with a timestamp. The server platform is configured to process incoming electronic messages strictly in a sequence corresponding to the timestamp. The electronic communication network comprising at least one switch, wherein the switch is arranged to receive electronic messages from a plurality of the client data processing devices. the switch comprises a buffer and is configured to store the electronic messages produced by the client data processing devices in the buffer, and to transfer the electronic messages in a manner sorted according to the timestamp provided to each electronic message by the time generator of the client data processing device submitting the electronic message, so that the electronic message with the oldest time is transferred first.

Abstract: A stock trading system according to one aspect of the invention is provided which has: a trading platform; and—a plurality of trading data processing units;—wherein each trading data processing unit is capable of submitting orders in the form of electronic messages to the trading platform, and the trading platform is capable of storing these orders in an order book or, in the case of an order already appropriately stored in the order book, at least partially executing it;—wherein each trading data processing unit has a clock and is designed to provide each order with a timestamp which represents the time of the submission of the order;—and wherein the system is designed such that the trading platform processes incoming orders strictly in a sequence which corresponds to the timestamp.

Abstract: The invention relates to a stock exchange trading platform for a plurality of trader data processing devices that are in communication connection with the trading platform, wherein the trading platform has a trading platform data processing device (“matcher”), which is able to store orders generated by one of the trader data processing devices in an order book, or to fill a matching order that is already recorded in the order book, at least partially, to acknowledge such received orders to the dispatching trader data processing device, and furthermore, to send messages to a plurality of connected trader data processing devices (in the case of a trading system with equally entitled traders, to everybody) in a broadcast mode. The trading platform is in particular characterized in that a unit of the trading data processing device controlling the optional execution or storing of the orders is configured as a dedicated logic circuit.