US Patent 11315183 Electronic trading system and method based on point-to-point mesh architecture

An electronic trading system and corresponding method are based on a point-to-point mesh architecture. The electronic trading system comprises a gateway, core compute node, and sequencer. The core compute node performs an electronic trading matching function. The gateway transmits a message to the core compute node via a first direct connection. The gateway transmits the message via a second direct connection to the sequencer which, in turn, transmits a sequence-marked message to the core compute node via a third direct connection. The core compute node determines relative ordering of the message among other messages in the electronic trading system based on the sequence-marked message to complete the electronic trading matching function, deterministically. The gateway, core compute node, sequencer, and respective direct connections form at least a portion of the point-to-point mesh architecture and enable the electronic trading system to perform high-speed, deterministic, electronic trading of financial instruments while exhibiting low latency, fairness, and fault tolerance, among other features.