Electronic Trading System
For the fair, equal and public environment of the derivative market, TAIFEX builds an in-house trading system with great performance. Building the trading system leads to make deal quickly, improve trading efficiency, and stimulate the derivative market. Clearing members also use an electronic clearing system to operate settlement tasks. Derivative market operates safe and efficient with our advanced computer systems.
B. Summary of system implementationn
Current TAIFEX Electronic Trading System is in-house developed and maintained. Clearing system is outsourced to Taiwan Depository & Clearing Corporation (TDCC).The critical factors of system implementation:
Trading system: TAIFEX Electronic Trading System (TAIFEX ETS) is developed on an open platform. It applies the host-to-host framework along with the distributed system jointly developed by TAIFEX and Futures Commission Merchants (FCM). Because of distributed architecture, FCMs could use any brand of computers to connect to TAIFEX ETS through a private network by the TCP/IP protocol.
Clearing System: Securities dealers could utilize TDCC’s current data line and increase a multi-protocol switch to connect TDCC’s clearing system. The design could save the cost of private network.
The core systems of derivative market are TAIFEX ETS and TDCC Clearing System. These two systems could transmit information to each other with secured and private network. Futures Commission Merchants or Securities dealers have to connect with them by network separately to construct their own frontend and backend systems.
C. Core Architecture of trading system
Taifex Electronic trading system launches the State-of-the-Art technologies and keeps up with global competitive trading platforms. For integrating into modern technology and keeping technical innovation, TAIFEX migrates operating system to open-source platform (i.e. Linux) and implements high speed network. For enhancing reliability, TAIFEX improves fault tolerance through high performance and redundant software architecture( active-active match engine). For globalization, TAIFEX extends the service hour to 19 hours through implementing after-hour trading. The throughput of trading system is 48,000 orders per seconds, and the latency is 150 microseconds.