BREAKING NEW GROUND IN EXCHANGE AND MATCHING ENGINE TECHNOLOGY

EP3 is our advanced exchange platform and matching engine technology. It represents the accumulated knowledge and experience from successful deliveries of implementations since 2008.

EP3 SERVICES

EP3 provides all the functionality and services to launch an exchange.

Provides the central limit order book matching buyers to sellers on a price time priority.


Manages tradable instruments and book creation, deletion, and state changes.


Maintains a record of order state and history. Manages workflows for Request for Quotes and Auctions.


Listens for book events to produce trades with buyer and seller information for clearing and settlement.


Manages users, market participants, participant groupings, and participant suspension.


The risk services encapsulates the pre-book risk checks for instrument states, absolute and relative price limits, order size limits, currency balance and position size checks.


Contact us to receive an in depth description of EP3 functionality.

AVAILABLE EP3 APIS

EP3 exposes several application program interfaces (API) to allow customers to enter orders, receive market data, and subscribe to drop copies. These include industry standards such as FIX (Financial Information eXchange), GRPC (Google Remote Procedure Calls) using Google Protocol Buffers, and REST.

Allows client applications to send orders and receive market data via Google protocol buffers.
Supports C/C++, Java, C#/.NET, Python, Go, Javascript and more.


A FIX endpoint allowing connected clients to send and manage orders and access RFQ functionality.


Presents a FIX endpoint to allow connected clients to receive market data via the FIX protocol.


Allows client applications to administer and operate the exchange.

  • Contribution – allows custom indices to be published on the market data feed.
  • Clearing & Settlement – Exposes information necessary to integrate with clearing houses and back office systems for post-trade processing.

  • Exposes basic user and service authentication services.


    The REST API exposes EP3 functionality as a RESTful web service.


    Contact us to learn more about EP3 APIs.

    THE FEATURES THAT SET EP3 APART

    RESILIENCE

    EP3 can be deployed in a hot primary / hot secondary, warm disaster recovery configuration. A failure in one matching engine will recover by restarting a new instance of the engine.

    SCALABILITY

    EP3 can scale horizontally by the addition of new matching engines to accommodate increases in trading. Matching engines can be added in real time during the trading day.

    PERFORMANCE

    EP3 is designed with performance in mind. The EP3 matching engine can sustain an order rate of over 120,000 orders per second at a sub-8 microsecond average latency.

    DEPLOYMENT INFRASTRUCTURE

    EP3 offers the latest in application containerization and orchestration technologies. This means that EP3 can be deployed to any cloud provider or customer on-premise data centers.

    ASSET AGNOSTIC

    The EP3 matching engine is agnostic to the asset class being traded. The means that EP3 can handle run-of-the-mill futures, options, swaps, securities, and cash instruments but also commodities and intangible assets, like lumber, bankruptcy claims, intellectual property rights, sports gaming, just to name a few.

    CUSTOMIZABLE

    By exposing a robust set of application programming interfaces, EP3 can be extended and customized to fit the needs of any exchange or marketplace.

    SERVICE
    PURPOSE
    EP3 API(S) USED
    VALIDUS – EVENTUS SYSTEMS
    Trade Practice
 Surveillance
    FIX Drop Copy, Admin

    TRAIANA
    Pre-trade risk for Interest Rate Swaps
    Admin API

    CME CLEARPORT
    Clearing and Settlement of Interest Rate Swaps
    Admin API- Clearing

    LCH
    Clearing and Settlement of Interest Rate Swaps
    Admin API- Clearing

    GLOBAL TRADE REPOSITORY – DTCC
    Regulatory Reporting for Interest Rate Swaps
    FIX Market Data API – Drop Copy, Admin API

    CFTC PART 16 REPORT
    Daily Trade Activity Report delivered to CFTC for SEFs or DCMs
    Admin API

    BASIS – REACT CONSULTING SERVICES
    Back office accounting and statement generation
    Admin API

    The EP3 administrative interface has several features to allow the exchange staff to manage the operations of the exchange. Included but not limited to user, participant, and account creation. Instruments, exchange hours are also managed through the EP3 Administrative interface.

    Contact us to learn more about the EP3 Administrative Interface included in EP3

    The EP3 monitoring and alerting framework allows operations teams to create custom alerts and observability dashboards to monitor system health and to proactively take steps to head off any potential disruptions.

     

    EP3 leverages the OpenTracing framework for distributed tracing messages. This means that every single request into the system is logged and traced between all microservices on the system so there is an audit trail of EVERY request, admin or user, on every API.

    Contact us to learn more about the EP3 Operational and Alerting Framework

    EP3 Trader is a customizable web and mobile responsive user interface for entering orders to the exchange.

    As an add-on to EP3, clients can leverage the base functionality of EP3 Trader. Connamara professional services team can customize EP3 Trader to meet specific customer needs.

    Contact us for an EP3 Web Trading Client

    CONNAMARA PROFESSIONAL SERVICES

    EP3 provides the functionality, reliability, and scalability to successfully launch and operate an exchange. But Connamara understands that many exchanges have unique needs and goals that require custom development work. For example, the exchange may need to send trades executed on EP3 to a clearing organization for trade clearing and settlement. Or, it may want to use a third party for trade practice surveillance. This is where Connamara Professional Service (CPS) comes into play. CPS will work with the exchange to fully understand the specific requirements needed to launch and operate the exchange. Leveraging the EP3 flexible architecture, CPS will extend or enhance the EP3 functionality needed to meet these exchange specific requirements. CPS will also work with third party providers of downstream services to integrate with EP3.

    Learn more about Connamara Professional Services for EP3

    Success stories

    CONNAMARA SUPPORT SERVICES

    To operate an exchange successfully requires full time monitoring and support of the platform. Connamara Support Services (CSS) can provide highly experienced technical staff to monitor and support the operation of the platform up to 24×7. This staff can monitor for anomalies, issue identification, escalation, and resolution. The amount of support is tailored to the needs of the client. Some clients need a comprehensive program that includes 100% coverage, others may have their own staff who may only want to use CSS for issue escalation and resolution. Learn more about Connamara Support Services and some recent success stories:

    Learn more about Connamara Professional Services for EP3

    Success stories

    A SOLUTION FOR NEW AND ESTABLISHED EXCHANGES

    Thanks to EP3’s feature-rich functionality, it can be a solution for both start up ventures and established exchanges.

    For startups, EP3 provides the functionality to build and launch in exchange, from the ground up, in a matter of months. It is flexible enough to allow customization to meet the unique needs of a new marketplace that may not fit neatly into the existing pattern of capital markets. Connamara understands the importance of “getting to the first trade” for new exchanges.EP3 is designed to get you there quickly.

    For established exchanges, EP3 offers core functionality as well as a host of add-on integrations, custom development work and support services for comprehensive front-to-back capabilities. As just one example, EP3 offers a set of well documented APIs that can allow an established exchange to replace legacy matching engines with EP3 using a phased approach. A phased approach provides flexibility and reduces the risk of the transition.

    TECHNOLOGY BACKED BY EXPERIENCE, REPUTATION AND INTEGRITY

    The choice of exchange and matching engine technology is the single most important decision an exchange or marketplace can make. And the choice should rest on the talent, experience, reputation and integrity of the developers of that technology. Connamara is justifiably proud of its 20+ year track record of successful deliveries of capital market solutions because:

    We Understand Trading and Markets

    The choice should rest on the talent, experience, reputation and integrity of the developers of that technology.

    Building Technology for Capital Markets is Our Business

    Few technology companies have the domain expertise and the deeply experienced engineers that can effectively and efficiently deliver capital markets technology. Our senior leadership team boasts an average tenure of XX at Connamara and each of them has been deeply involved in the design, development and support of EP3. Technology is not a side business for us – it is our only business. This means clients have our full attention regardless of their size. Their goals are our goals, their success is our success. We are their partners, not their competitors.

    20+ Years of Delivering for Demanding Capital Market Clients

    Connamara has successfully delivered to capital markets customers over 20 years because we understand the urgency of getting something done. Our culture reflects our roots in pit trading where every missed trade is a missed opportunity. And that is why we understand how important for new exchanges to “get to the first trade”.

    Our Reputation for Integrity and Professionalism is Unrivaled

    We say what we mean. We do what we say. And we take the pit trading creed seriously -, we never back out of a trade. Ask anyone.