Execution of co-dependent transactions in a transaction processing system

Patent metadata

Field	Value
Publication number	US-12346965-B2
Application number	US-202218078273-A
Country	US
Kind code	B2
Filing date	Dec 9, 2022
Priority date	Dec 30, 2015
Publication date	Jul 1, 2025
Grant date	Jul 1, 2025

Abstract

Systems and methods are disclosed for ensuring execution of multiple inter-dependent transactions in an electronic data transaction processing system in which a plurality of data items are transacted by one or more hardware matching processors associated therewith that match a combined electronic data transaction request comprising a conditional execution instruction and a plurality of component electronic data transaction request messages, each for transaction of a different data item of the plurality of data items.

First claim

What is claimed is:

1. A system comprising:
one or more data structures, associated with a particular data item of a plurality of data items, the one or more data structures configured to store data indicative of at least one other previously received but unsatisfied electronic data transaction request message for the particular data item; and
a processor, coupled with the one or more data structures, the processor configured to:
receive, from a data communications network, a combined electronic data transaction request comprising a conditional execution instruction and a plurality of component electronic data transaction request messages, each for transaction of a different data item, the conditional execution instruction defining how each of the plurality of component electronic data transaction request messages are to be processed by a plurality of hardware matching processors configured to match incoming electronic data transaction request messages with at least one other previously received but unsatisfied electronic data transaction request messages counter thereto stored in the one or more data structures;
send, to each particular hardware matching processor of the plurality of hardware matching processors coupled with each of a subset of the one or more data structures associated with a particular data item related to at least one of the plurality of component electronic data transaction request messages, an instruction to lock the subset of the one or more data structures to prevent modification of any of the at least one other previously received but unsatisfied electronic data transaction request messages stored in the one or more data structures, preventing each particular hardware matching processor coupled with each of the subset of the one or more data structures from processing subsequently received incoming electronic data transaction request messages;
subsequent to the lock of the subset of the one or more data structures, determining that the conditional execution instruction can be satisfied by forwarding a test message for each of the plurality of component electronic data transaction request messages to a respective plurality of hardware matching processors to determine if there is a test match with at least one other previously received but unsatisfied electronic data transaction request message stored in the subset of the one or more data structures;
upon occurrence of the processor determining that the conditional execution instruction can be satisfied, forward each of the plurality of component electronic data transaction request messages to the plurality of hardware matching processors in accordance with the conditional execution instruction;
upon occurrence of the processor determining that the conditional execution instruction cannot be satisfied, reject the combined electronic data transaction request; and
only subsequent to the forwarding or rejecting, send an instruction to each particular hardware matching processor coupled with each of the subset of the one or more data structures to unlock the subset of the one or more data structures to allow modification of any of the at least one other previously received but unsatisfied electronic data transaction request message counter thereto stored in the subset of the one or more data structures.

2. The system of claim 1 , wherein each particular hardware matching processor of the plurality of hardware matching processors is coupled with and assigned to a particular data structure of the one or more data structures and wherein each particular data structure is associated with a different particular data item.

3. The system of claim 1 , wherein the conditional execution instruction is satisfied if each of the plurality of component electronic data transaction request messages may be fully satisfied by at least one other previously received but unsatisfied electronic data transaction request message counter thereto stored in the one or more data structures.

4. The system of claim 1 , wherein the processor is further configured to receive incoming electronic data transaction request messages from the data communications network and store the received incoming electronic data transaction request messages in a buffer memory coupled with the processor prior to forwarding the received incoming electronic data transaction request messages to the particular hardware matching processor for the particular data structure of the data item of the received incoming electronic data transaction request message.

5. The system of claim 1 , wherein the plurality of hardware matching processors is operable to prevent modification of any of the at least one other previously received but unsatisfied electronic data transaction request messages while the processor determines if the conditional execution instruction can be satisfied.

6. The system of claim 1 , wherein the data items include financial instruments.

7. The system of claim 1 , wherein the processor is further operable to reject the combined electronic data transaction request if the conditional execution instruction cannot be satisfied.

8. The system of claim 7 , wherein the conditional execution instruction cannot be satisfied if one or more of the plurality of component electronic data transaction request messages may not be fully satisfied with at least one other previously received but unsatisfied electronic data transaction request message counter thereto stored in the one or more data structures.

9. The system of claim 1 , wherein each of the plurality of component electronic data transaction request messages comprises a leg of a combination order.

10. The system of claim 1 , wherein the processor, the plurality of hardware matching processors, and the one or more data structures comprise a match engine.

11. The system of claim 1 , wherein the processor is further configured to validate, instead of forwarding each of the plurality of component electronic data transaction request messages to the plurality of hardware matching processors, that each of the plurality of component electronic data transaction request messages may be matched with at least one other previously received but unsatisfied electronic data transaction request message counter thereto stored in the one or more data structures associated with the plurality of data items to satisfy the conditional execution instruction.

12. The system of claim 11 , wherein the plurality of component electronic data transaction request messages are validated and forwarded in parallel.

13. The system of claim 1 , wherein each of the plurality of component electronic data transaction request messages forwarded to the plurality of hardware matching processor are all executed by the plurality of hardware matching processors before other subsequently received incoming electronic data transaction request messages.

14. The system of claim 1 , wherein the determination includes simultaneously checking the test message, by the respective plurality of hardware matching processors, using parallel processing.

15. A computer implemented method comprising:
storing, by a processor, in one or more data structures associated with a particular data item of a plurality of data items, data indicative of at least one other previously received but unsatisfied electronic data transaction request message for the particular data item;
receiving, by the processor, from a data communications network, a combined electronic data transaction request comprising a conditional execution instruction and a plurality of component electronic data transaction request messages, each for transacti

Assignees

• Chicago Mercantile Exchange Inc

Inventors

• Studnitzer Ari
• Peck-Walden Pearce
• Rogerson Mark

Classifications

• G06Q40/04 Primary

  Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange · CPC title