Algo-Logic Systems, a provider of Gateware Defined Networking products and solutions, has announced the release of its latest CME Futures & Options (F&O) Order Book. The F&O Order Book was created for futures and options exchanges, market makers, hedge funds and traders who require real-time market data and knowledge of the best bid and ask prices for the instruments they trade.
The company’s products and solutions are used in the industry to lower latency in financial trading systems, increase packet throughput in datacenters and clouds and lower energy consumption for data processing in embedded systems.
Algo-Logic’s F&O Order Book is a Field Programmable Gate Array (FPGA) hardware accelerator implemented in FPGA logic. Its single FPGA platform architecture achieves deterministic ultra low latency without jitter, regardless of the number of tracked instruments at data rates of up to 10 Gbps.
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The F&O Order Book can be integrated with CME Feed Handler and incorporates functions including A/B faster feed arbitration, multicast channel filter, UDP parser and MDP3.0 parser. The CME Feed Handler is capable of receiving MDP3.0 market data and rapidly processing, updating and transfering Best Bid Offer (BBO) data in less than 100 nanoseconds.
Furthermore, integrating the F&O Order Book and Feed Handler with ULL 10GE PHY+MAC and 10G TCP Endpoint for order injection allows for a complete tick-to-trade solution, achieving sub-microsecond wire-to-wire latency.
Algo-Logic’s F&O Order Book use cases include high frequency market making that adds liquidity in fast moving markets, algorithmic trading systems requiring both complexity and nanosecond speed, low latency feed distributions allowing minimum bandwidth utilisation and profitable arbitrage opportunity discovery in the nanosecond timescale.