Abstract: Systems and methods are provided for efficiently permitting the transmission and receipt of trading messages between message sources configured to use a variety of different protocols. Messaging gateways may be configured to reformat messages for proper transmission across a transport mechanism. Messaging gateways may also insert sequence and group information into message headers to facilitate processing messages in the proper order. Messages may be processed with processing threads that are dynamically allocated by messaging gateways.

Abstract: Systems and methods are provided for efficiently permitting the transmission and receipt of trading messages between message sources configured to use a variety of different protocols. Messaging gateways may be configured to reformat messages for proper transmission across a transport mechanism. Routers may be dynamically partitioned so that manual reconfiguration is not required when sources and/or routers are added or deleted. The routers may be configured to route messages based on content to limit the amount of formatting required at message sources.

Abstract: Systems and methods are provided for efficiently permitting the transmission and receipt of trading messages between message sources configured to use a variety of different protocols. Messaging gateways may be configured to reformat messages for proper transmission across a transport mechanism. Routers may be dynamically partitioned so that manual reconfiguration is not required when sources and/or routers are added or deleted. The routers may be configured to route messages based on content to limit the amount of formatting required at message sources.

Abstract: Financial instrument trade systems and methods are disclosed. Trade data is processed at a plurality of match servers. Trade data that remains unmatched may be stored in one or more aging queues. Trade data is periodically retrieved from the aging queues and attempts are made to match the unmatched trades. As time progresses from the time that trade data from a particular trade is stored in an aging queue, the match criteria used to match the trade is relaxed. Fault tolerant mechanisms are also disclosed for allowing operational match servers to take over the operations of failed components or servers.