Chronicle Software (Chronicle), the specialist provider of low latency technology solutions for the financial services industry, has expanded its ultra-fast, high performance trading solutions suite with the release of the Chronicle Matching Engine.
Developed in response to client demand for an asset-agnostic, low latency matching solution, the new Chronicle Matching Engine offers order matching, validation and risk checking capabilities for multiple order types including time in force order instructions.
Its scalable, modular and flexible design means that clients can adopt all or some of the Matching Engine software both to create new and support existing proprietary trading solutions, and can be integrated seamlessly with other Chronicle trading solutions and services.
Fully customisable to support different client use cases, the Matching Engine enables bespoke pre-order matching rules such as Minimum Execution Quantity (MEQ) and Self-Match Prevention (SMP).
The Chronicle Matching Engine runs on commodity hardware and can be deployed at on premise data centres or any cloud environment. Key to its low-latency, high throughput performance is a JAVA-based design that leverages proven Chronicle Queue technology and optimises available resources. The Matching Engine supports multiple and extensive libraries, and new matching engines can be added in real-time as they are needed.
Commenting on the new trading solution, Peter Lawrey, CEO, Chronicle Software said: “We’re delighted to provide a new generation of Matching Engine technology that is equally interoperable with existing infrastructure and products. Our clients repeatedly ask us for high-performance solutions that are transferable across multiple assets, including the more esoteric assets like crypto and carbon.
We’ve also had substantial demand from crypto exchanges looking to build or upgrade their existing infrastructure with an institutionally robust solution.
The Chronicle Matching Engine delivers a low latency exchange backbone, including provision of the source code, to optimise the investment firm’s ability to rapidly ‘buy and build’ a solution that can be tailored to their exact requirements.”