Argo Matching Engine

Argo Matching Engine

Argo Matching Engine is a high capacity, low latency order matching server, the software core of electronic marketplace. It implements fast price-time priority and pro-rata order matching algorithms, industry standard FIX-based interfaces for order management, inside market and market depth distribution facility, and RDBMS-based order history storage. Argo Matching Engine is written in C++. It runs on Linux and Windows. We can port it to any major UNIX platform by request. Argo Matching Engine supports MS SQL Server, mySQL, Oracle and Sybase RDBMS.

See how Argo Matching Engine has been used to build a powerful CME Simulation system.

• Extendable set of instruments, support for equities, futures, options, bonds, FX spot, cryptocurrency contracts, forwards, exchange traded strategies (like calendar spreads, butterflies) out of box; support for dynamic (intra-day) instrument creation;
• Market, Limit, Stop-Loss and Stop-Limit Orders; Iceberg; Day, GTD, GTC, GFS, FOK, IOC, AON time-in-force options; one-cancel-the-other and if-done combinations;
• Several variations of price-time priority and  pro-rata order matching algorithms;
• Implied engine: implied IN and implied OUT;
• Continuous and call auction style trading sessions;
• Validation of order price alignment, price range, minimum order size, order size increment, and more;
• FIX 4.2/4.4 interfaces for order management;
• Publishing of market depth (full snapshot, incremental updates), market statistics, and instrument definitions via FIX/FAST;
• Support for trading session scheduling on market, channel, and instrument level;
• Administrative HTML and command line interfaces provide trader session statistic, trader activity, order book, fills, and market depth views;
• Support for “manual” matching for dealer-desk setups;
• Scalability. Advanced multithreading helps to utilize multiple processors efficiently; we can deploy multiple matching engines to work in concert in one trading environment;
• Seamless integration with ATP Order Router, Market Data Feeder, Risk Management Server, and Argo Trader front-end;
• Optional Market Simulation facility.

White label

Argo Matching Engine is a White Label product. You can purchase the application source code by paying one-time license fee, and distribute the application to your clients without paying additional fees.