Algo-Logic Systems’ 5th generation FPGA accelerated Gateware Defined Networking® (GDN) CME Tick-To-Trade (T2T) System is a sub-500 nanosecond trading solution. It supports all CME Group exchanges including CBOT, COMEX, and NYMEX. The solution is built using Algo-Logic Systems' internally developed, pre-built IP cores that significantly reduce time-to-market and provide flexibility for customizations.

Sub-microsecond wire-to-wire latencies are achieved by receiving CME MDP 3.0 tick data directly into the FPGA on a 10G link, detecting opportunities by building order books, and placing trades in form of FIX messages encapsulated in TCP packets using the ultra-low latency (ULL) 10G TCP Endpoint.

The CME T2T system includes parametrized triggers for mass quote cancel, mass action request and fast arbitrage as well as the ability to modify FIX order fields in FPGA logic. It integrates with existing Order Management Systems (OMS) through C++ Application Programing Interfaces (APIs). A Graphical User Interface (GUI) and RESTful APIs are provided for control and monitoring of the accelerator.

ArQ C++ Library and API:

  • Low latency C++ 98 compatible APIs are used to set up triggers and preload FIX orders to be injected
  • Well defined API to pass trigger parameters between hardware and software

Control Software includes:

  • Device parameter configuration (i.e. IP and MAC addresses) and status monitoring
  • Logging and event notification

Short Time to Market:

Augments existing Order Management Systems:

  • Minimal changes to software through well-defined APIs
  • No FPGA programming skills required