EP3 exchange platform and matching engine technology were made from the accumulated knowledge and experience of successful deliveries implementation since 2008. The exchange platform has been well developed to provide an efficient service to buyers and sellers with well-made algorithms. Connemara provides its clients with a functional and reliable system that enables them to perform their processes and deliver services with ease, without delays and hiccups. The EP3 is broad with several features and elements that will guarantee a reliable service provider that the users get to rely on depending on the tasks they undertake.
EP3 services
The reliable nature of the exchange platform ep3 makes it vital in executing various tasks and providing services. The EO3 services include matching, instruments, order manager, RFQ and auction, trades, and risk services to the clients. The matching service provides the central limit order book, which matches buyers to sellers on a price-time priority. The matching capability facilitates the efficient linkage of the buyers and sellers and the smooth operation of the trade. The instruments service manages the various tradable instruments and book creation, deletion, and state changes, ensuring that the business follows the legal standards. The order manager, RFQ, and auction exchange platform ep3 services maintain the order state and history records while managing quotes and auction requests workflows. The participants’ service manages the market participants, users, participant groupings, and suspension. Finally, the risk services cover the pre-book risk checks for instrument states, absolute and relative price limits, order size limits, currency balance, and size checks.
EP3 Application Programming Interface (API)
API acts as an intermediary between two applications facilitating their linkage and communication. The exchange platform EP3 uses several APIs which allow customers to make orders, receive market data, and subscribe to drop copies. The APIs include Trading, fixing orders, fixing market data, administration, authentication, and rest API. The trading API allows client applications to send orders and receive market data via Google protocol buffers. The API supports Java, C/C++, C#/.NET, Python, Go, JavaScript, etc. The fix order API allows the connected clients to access RFQ functionality to send and manage orders. The fix market data API enables connected clients to receive market data through the FIX protocol, facilitated by the API presented FIX endpoint. The authentication API exposes the service and essential user authentication services.
Features that make the EP3 standout
Several features make the exchange platform ep3 stand out in the industry. First is the resilience that enables it to get deployed in a hot primary/secondary, warm disaster recovery configuration. Restarting a new engine instance automatically recovers the failure of one matching engine. The scalability nature of the EP3 enables the system to accommodate an increase in trading activity. The matching engines can get added in real-time dynamically during the trading day. In addition, the ep3 matching engine has a high-performance rate, enabling it to sustain an order rate of over 120,00 orders per second with a sub-8 microsecond average latency.
