Patsystems' order management services form the core of the trading system. The key components are the Order Routing Engine (ORE), the Patsystems Data Distributor (PDD) which handles market data collection and delivery, and the Synthetic Order Management Server (SyOMS).
Patsystems' Order Routing Engine (ORE) handles routing from multiple sources to multiple execution venues. Orders arrive from Patsystems' own trading front-end, many third-party screens and other clients based on the Patsystems trading API. These are routed to over 60 markets through our own connectivity, and many others through XLinks to Patsystems clearers.
The ORE supports very high order throughput at low latency impact to the routed order. It achieves this by using sophisticated in-memory routing, based on the individual trader, their account properties and the market itself. Each order is risk managed using in-memory databases, keeping latency to a minimum. The scalable architecture is proven to support very large numbers of traders across global sites with high transaction volumes, routing to many exchanges. The load is balanced across multiple servers to cope with the high demands of our (FCM and Tier 1) clients. This scalability ensures that the trading system runs efficiently and with optimum performance for all traders. The trading system is also efficient to manage; the System and Risk Administration tool (SARA) manages the system centrally, giving access to rich account structure, contract permissioning and risk models. This tool can be deployed to introducing brokers to allow them to manage their own clients within aggregate limits.
Patsystems Data Distributor (PDD) Market Data services are provided in the core system by the Patsystems Data Distributor (PDD), which gathers market data from the ESAs and distributes it to a load balanced network of slave PDDs for low latency delivery to the end users.