The Universal Trading Engine is built on a robust platform using TIBCO® Rendezvous high speed messaging bus.
Architecture
The Universal Trading Engine (UTE) architecture is a robust high availability, clustered and enterprise level architecture.
All the components communicate over a high speed TIBCO bus, and follow
the publish and subscribe model. Components can be run over one or many
machines, and each machine can host one or many components.
A further innovation of the @TheMoment UTE is the ability to run
multiple auction types at the same time, a direct result of its
lot-driven design. The UTE is designed to operate on hundreds or
thousands of lots at the same time, giving each lot a time slice or
moment of opportunity to conduct matching activities. Each lot is
associated with a strategy object, and each strategy object, as
discussed above, is easily configurable in terms of a small set of
relevant parameters. Because of this, each lot can conduct an auction
type completely distinct from the others. Thus, the UTE can run
hundreds of forward, reverse, exchange, and other dynamic price
interactions simultaneously—a unique capability far more efficient and
versatile than older hard-coded techniques. This ability allows the
@TheMoment solution to deliver the most efficient auction type for each
particular lot, which means better price efficiencies than are
available with older solutions. This technique typically allows
@TheMoment to run these auction types with fewer hardware and software
components than a competing product.
Components
The @TheMoment trading engine operates in real time, and can adjust
asking prices up until the time an item receives a bid. Internally,
buyers and sellers are identically and symmetrically represented by the
identifier “trader,” and all information concerning the state of an
auction can be delivered to the engine in a standardized format such as
XML. Additionally, all information concerning the items to be sold can
be delivered to the trading engine in a fully abstracted data transfer
format (such as XML) that does not need to be greatly reconfigured for
different customers.
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