Development of trading system (V) -- Introduction to Sinovel counter

One 、 Sinovel platform brief introduction

1、 Hua Rui platform brief introduction

The current institutional business is rising 、 The transformation of wealth management of securities companies is in full swing , Sinovel financial technology provides an integrated unified access gateway 、 Institutional trading system 、 Real time risk control platform 、 High speed market 、 Transaction bus 、 Develop and test cloud services and other functions , From planning to implementation , From design to implementation , From software to services , The overall delivery solution of institutional transaction risk control from hardware to link .

The overall solution of Sinovel institutional transaction risk control is as follows ：

 

2、 Low latency

The essence of competitive trading is price priority 、 Time first competitive transactions . Whether the entrusted declaration of traders can be successfully reached , In addition to the commission price , The time delay of offer is the biggest influence factor , It is also the first element to judge the trading system capability of securities companies from the perspective of investors .

Investor perceivable trading delay , It consists of two parts: the processing delay of the securities trading system and the processing delay of the exchange , Exchange delay is the same for all market investors , The time delay at the broker end plays a decisive role . The delay at the broker end is divided into uplink delay and downlink delay , Uplink delay refers to the time when the entrustment enters the securities trading system , Time delay from leaving the offer service to submitting to the exchange gateway , The uplink delay is the key to determine whether the entrustment can be delivered to the exchange as soon as possible .

ATP The uplink delay of the extreme deployment scheme can be as low as 30 In microseconds , It is a veritable ultra-low delay and high-speed trading system , And the delay stability can be expected , It will not fluctuate violently due to the change of entrustment pressure .

 

3、 High concurrency

Institutional investors have a high degree of automation , Instantaneous concurrent delegation is high , The total daily Commission is huge , There are very high requirements for the throughput capacity and commission capacity of the trading system .

The handling capacity of securities trading system is usually entrusted TPS To express , That is, the number of delegates processed per second . The time delay index must be the same as TPS The combination of indicators is meaningful , That is to say, the delay in negotiation must be made clear under what entrustment pressure , And talk about entrustment TPS It must also be clear what delay level is reached . Due to the inevitable existence of transaction concurrency , The time delay recorded by declaring only one consignment is of little practical significance , The delay index should be evaluated under different concurrency pressures . And because of the competitive nature of the deal , There is no point in not ensuring the throughput at the delay level , It can only indicate that the system is not down , But the service quality has been unqualified .

Hua Rui ATP The measured data of a single transaction node in the express version ：

3000 pen / Second Commission pressure , Average uplink delay <45 Microsecond , Loop delay <70 Microsecond .

8000 pen / Second Commission pressure , Average uplink delay <100 Microsecond , Loop delay <200 Microsecond .

  

4、 Horizontal expansion

As a distributed trading system ,ATP Ability to scale horizontally ,8000 pen / Seconds is just the best cost performance capacity of a transaction node , Not Sinovel ATP The limit of capacity .

  When more capacity is required , Every time 1 platform PC Servers can be added 1 A trading node , Get the corresponding capacity increase , And the performance level does not decrease . By expanding , The whole system can support more than at ultra-low delay level 10 Ten thousand brush / Second delegate request , And there is no need to modify the application software , It can be realized only through operation and maintenance configuration .

 

5、 Flexible deployment

Geographical distance has a very significant impact on the trading speed of investors , It is even easy to introduce extra delay of tens of milliseconds , The impact is particularly serious in the third-party access scenario .

ATP Support flexible two node and two nearby high availability deployments , A highly available transaction node can be deployed in Shanghai and Shenzhen respectively . Two securities accounts under the same investor , You can offer from two places nearby , It meets the demand of Shanghai and Shenzhen for the ultimate speed of offer .

ATP Although it supports the deployment of multiple transaction nodes , But it belongs to the same trading system , It can be monitored uniformly 、 Unified management 、 Unified operation and maintenance .

 

6、 Transaction channel management

Trading channels are important resources ,ATP Multi transaction node and multi-channel mode , Support careful calculation of transaction channel resources 、 Flexible configuration management requirements .

Channel exclusive mode , Each trading engine can be configured with an exclusive trading channel , Exclusive resources , The trading channels do not affect each other .

 

Due to the restriction of the exchange offer gateway on the flow rate , A separate transaction channel may not meet the requirements of concurrent entrustment ,ATP It also supports the ability of the same trading engine to connect multiple trading channels , Easily realize channel expansion .

 

Through these flexible configuration modes , Securities companies can choose which service model to provide for investors , Multiple investors can share a trading channel , Or a single investor can monopolize a channel , Multiple investors can share multiple trading channels , It is also possible for a single investor to use multiple trading channels , Very flexible and convenient .

7、 Real time risk control ARC

  Institutional business attaches great importance to risk control ,ARC（ArchForce Risk Control, Sinovel real-time risk control platform ） It is a real-time risk control product tailored for institutional trading business , It is especially suitable for building real-time risk control and global risk control capabilities for business scenarios such as third-party access , It can help securities companies quickly establish a comprehensive system that meets the requirements of three-party access risk control 、 Real time risk control capability of the whole process , Fully meet the compliance monitoring and risk management requirements of securities companies for institutional transactions .

 

ARC Based on distributed platform , Using parallel computing technology , Equipped with microsecond real-time risk control engine , Meet the transaction speed requirements , The real-time massive calculation of real-time risk control for the transaction of the adaptation institution needs , The daily calculation amount can reach 10 billion times , Ensure that risks are identified and discovered at the first point in time .

ARC Design intelligent monitoring model following the regulatory requirements , From the regulatory rules 、 Penalty cases 、 Supervision letter , Analysis based on a large number of transaction behavior data 、 Repeat 、 Calculation 、 modeling , Strive to make the rule model accurate and effective .ARC It can provide integrated closed-loop institutional transaction risk management for securities companies , Through complete process design 、 Functional design , Provide one-stop service for system users , Users do not need multiple systems to switch constantly .

 

8、 Unified access gateway

In order to meet the unified access of the third-party transaction information system 、 Unified risk control requirements , Sinovel is based on ATH（ArchForce Trading Highway , Sinovel high speed transaction bus ） Launch unified access gateway , Data communication 、 Protocol adaptation 、 Access control, transaction push and other functions .

Sinovel unified access gateway adheres to the concept of openness and compatibility , Both provide standards API Access , And compatible with existing FIX、KCXP/KCBP、AR/AS/T2 And so on , Support securities companies PB System 、 Quantitative trading system and other systems are directly connected to , Support information investment 、 Mainstream transaction clients such as tongdaxin , It can quickly and conveniently meet the access of third-party systems , Protect the existing investments of investors and securities companies to the greatest extent .

Sinovel unified access gateway also provides a variety of identity authentication 、 Safety measures for flow control , Support flow control for individual or total connections of each user , User delegation is supported 、 cancel the order 、 Query and other operations are used for flow control , Completely satisfied 《 Provisional regulations 》 Medium to customer 、 System verification requirements .

The unified access gateway is designed in multi active mode , Interface protocol and API Provide breakpoint alignment mechanism for return data , Support failover and automatic reconnection . At the same time, the unified access gateway can realize grouping according to the fund account , So as to realize the horizontal expansion of system capacity .

9、 High speed market

Quotation service is an important service provided by securities companies for institutional customers . As a trigger for trading signals , The market speed determines the trading speed , The service quality of market data is an important measure of the service quality of institutional business .

AMD It is a new generation of enterprise level market service platform of Sinovel , Focus on real-time market distribution and market data processing , Provide microsecond market distribution and market enhancement services for financial institutions . Can be used for distribution within the data center 、 Distribute across data centers 、 Various scenarios such as remote end users .

 

AMD With cascading distribution 、 Priority forwarding 、 Real time monitoring and other functions , Be able to provide streaming market at the same time 、 File Market and other different markets 、 Distribution services for different types of market data , Moreover, different distribution strategies of delay priority or bandwidth priority can be provided for users according to the use environment , So as to provide different levels of data centers for users 、IDC Computer rooms and sales departments at all levels provide fast 、 Stable original quotation distribution service .

AMD Provide rich data interfaces , It can provide the market data in the original format of each exchange , There can be a variety of API Push market data in form . In addition to providing raw market data ,AMD Excellent scalability , Extend the components of deep processing of emotion in a modular way on demand , Provide query and replay services of historical market data , Generate K Line Market 、 Time sharing market 、 More abundant data forms such as individual quotations . Through the deduction of transaction by transaction entrustment and transaction by transaction market ,AMD It can simulate the reconstruction of the order book status of the exchange , Provide more reference information for institutional investors .

AMD With great flexibility 、 Extremely low switching cost 、 Full scalability can meet the needs of different market participants for market data .

10、ATH Transaction bus

In order to better serve institutional customers , Transaction data should be able to be collected and shared in real time , To facilitate the development of more institutional service capabilities .

ATH Focus on the transaction data transmission of securities companies , Realize unified access of different terminal systems , Support the service integration related to transaction data in the background .

ATH It can connect with various data sources to collect data , Support multi-dimensional data subscription , Provide high efficiency for terminal system 、 Fast transaction data distribution and push service . With excellent performance and horizontal scalability , Reduce data source access pressure , Ensure the safe and stable operation of the core system .

ATH be based on AMI And frame structure , Support flexible business expansion , Improve the independent development ability of securities companies , Users can customize the development according to their own business needs .

 

11、 Develop and test cloud environment

《 Interim Provisions on external access management of trading information system of securities companies 》 Article 13 requirements “ Before securities companies provide investors with external access services to the trading information system , A simulation test environment consistent with the production environment should be established ”. Before the access of the third-party transaction information system is officially launched , Securities companies need to verify the access system , Make sure it can run stably , Verify procedural transactions 、 Algorithmic trading meets expectations , And simulate and test the abnormal conditions , Strictly control business and operational risks . But it is a very complicated work to establish a simulation environment consistent with the production system according to the requirements , User management 、 Application deployment 、 Test verification 、 The workload of transaction simulation is huge , Hardware investment is also a big expense .

Sinovel associates with industry cloud organizations , It provides application for developing and testing cloud resources for securities companies and investors 、 Deployment upgrade 、 Operation management 、 Technical support 、 One stop service for test management , Provide a complete cloud testing environment for third-party access , And docking with the exchange and other simulation test environment , Equipped with test quotation 、 Simulation matchmaking 、 Automated testing and other tool chains , It greatly reduces the burden of securities companies , It's a major 、 A complete full-service simulation test platform .

Two 、 Hua Rui ATP Counter

1、ATP brief introduction

ATP（ArchForce Trading Platform, Sinovel core trading platform ） Focus on the exchange floor standard business , Connect order management system and exchange trading system , The business scope covers all kinds of floor trading , Provide transaction order generation 、 Front end risk control inspection 、 Offer and other functions , And transaction management 、 Operation and clearing functions .

ATP The product follows the hierarchy 、 abstract 、 decoupling 、 Isolated business design philosophy , The public technical service framework and configurable transaction business framework are implemented , Business features are encapsulated as independent business packages , Realized “ Can be assembled ” Type business configuration , Effectively isolate the interaction between businesses , It can be assembled and launched in batches as required , The scope of influence can be effectively controlled during business adjustment .

ATP The product has a scalable and elastic architecture , It can be flexibly applied to build a large-scale centralized trading system used by ordinary investors according to scenarios 、 The institutional trading system for professional investors and the high-speed trading system for extreme performance scenarios .

 

2、 characteristic

High availability ： All components are highly available , There is no single point of failure risk in the whole system ; Multi active cluster , Second level automatic switching in case of failure , There is no need for human intervention ; Support remote disaster recovery , Minute level switching can be realized ; Messages and business data are all persistent .

High performance ： stay 50 Ten thousand brush / Second ultra-high throughput , Core transaction processing delay as low as 3 Microsecond ;

Support multi transaction node deployment , Realize the nearby offer of each exchange .

Horizontal expansion ： Realize linear capacity expansion by adding servers , Can accommodate more than 1 Billion securities account ;

Capacity expansion is transparent to applications , Operation without risk ; Business packages are assembled on demand , Go online in batches , The risk of business change is small .

 

3、 ... and 、 Hua Rui AMD The market

1、AMD brief introduction

In procedural trading , The market speed determines the trading speed .

AMD（ArchForce Market Data, Sinovel high speed market platform ） It is an enterprise level market service platform , Based on the new generation distributed architecture technology , Provide microsecond market distribution services for financial institutions , Focus on real-time market distribution and market data processing . It supports high-speed transcoding in the same data center 、 Fast original distribution , It also supports cross data center deployment , It is suitable for multi scenario applications of financial institutions .

 

2、AMD Product advantage

Stable and reliable ： Double active and double source , Two way merge , Ensure that the market is not interrupted ; Real time hot standby , There is no single point of failure risk in the whole process , Automatic failover ;L2+L1 Market downgrade backup ,L2 Switch to when the market source is abnormal L1 The market .

Low latency ： Microsecond distribution delay ; Two way merge to select the fastest market .

Unlimited expansion ： The market bus can be connected to an unlimited number of market user nodes ; Adopt reliable multicast technology , Save bandwidth , At one point , Multi point simultaneous delivery ; Horizontal expansion + Vertical cascade .

3、AMD Product features

 

Multi dimensional quotation subscription ： market + data type （ Such as snapshot 、 One by one 、 Announcement, etc ）、

Portfolio （ predefined ）、 negotiable securities （ Dynamic definition ）

Enhance market service ： Accurately repeat the historical market of any day ; High speed 、 accuracy 、 Keep the order ; Provide quotation processing services such as commission Book reconstruction .

Data completion mechanism ： Auto completion mode ; User completion mode ; Mixed completion mode .

Open interface ： Provide simple and easy-to-use standards API Interface

Centralized operation and maintenance management ： Centralized monitoring ; Visual operation and maintenance ; One click upgrade rollback