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About Client

Top tier OTC Exchange wants to develop a FIX Market Data gateway, that should process various pre-trade messages from execution management system and distribute the pre-trade data through FIX market data gateway.

Technology Used

Core Java, Multi-Threading, PhiFIX-Engine, Kafka, Google Protocol Buffers, FIX Protocol, Market Data APIs, Advanced Data Structures and algorithms

Business Challenges
  • Client wants to develop generic FIX Market Data gateway to distribute the market data
  • This should be scalable to handle more than 50+ FIX Clients at a time
  • Gateway should handle high volume market data processing
  • Dynamic subscription management from FIX Market Data clients
  • Session level, Client level and Instrument level entitlement control and publish management
Solution Provided
  • Developed FIX market data gateway using PhiFIX-Engine
  • This gateway will process pre-trade data like reference data, Instrument data, and real-time and snapshot market data from OTC Exchange and manage the subscriptions between FIX Client connected and distribute real-time market data feed and pre-trade data to clients according to their subscriptions.
  • PhiFIX-Engine is a high performance FIX engine, with high level of customization using dialects, was used to build the FIX Market Data gateway
  • This gateway is being used by more that 50+ Clients to consume market data in real time
Business Benefits
  • High performance scalable FIX Market data gateway
  • Cost effective proven FIX engine for the solution
  • Client onboarding made easy using PhiFIX engine, standardization of messages
  • Highly customizable FIX messaging solutions with custom tags
  • Easy client real-time monitoring and control with structured logs