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Quantitative Finance · Glosarium

Apa itu Hybrid trading system?

Definition 7.6 Networks, Hardware and Trading Infrastructure · Bab 7 — Programmable Hardware II: Trading Designs

A hybrid trading system splits a strategy between software, which computes its model, positions and parameters at its own pace, and hardware, which applies precomputed decisions to the market data at line rate; software writes the hardware’s registers and reads its counters and copies of what it sent.

The chapter’s hybrid design. Three pipeline stages on the card decode the feed, check each candidate order and patch it into a template; software on the host writes the thresholds, limits and kill bit through the register map and receives copies of everything the card sends.
Figure 7.1. The chapter’s hybrid design. Three pipeline stages on the card decode the feed, check each candidate order and patch it into a template; software on the host writes the thresholds, limits and kill bit through the register map and receives copies of everything the card sends.
One packet with one add-order message (58 bytes: 20 of header, 2 of length, 36 of message) through the design, one beat of 8 bytes a cycle. The price’s last byte arrives in beat 7; the trigger is registered at the end of that cycle, the risk decision one cycle later, and the order in the cycle after: two cycles after the price, ten after the packet’s first byte.
Figure 7.2. One packet with one add-order message (58 bytes: 20 of header, 2 of length, 36 of message) through the design, one beat of 8 bytes a cycle. The price’s last byte arrives in beat 7; the trigger is registered at the end of that cycle, the risk decision one cycle later, and the order in the cycle after: two cycles after the price, ten after the packet’s first byte.
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