A system-design perspective on ultra-low-latency order matching, price-time priority, partitioning, market data, and correctness An exchange matching engine sits at one of the most unforgiving boundaries in financial technology. It receives orders from market participants, validates them, places them into…
For a long time, one region was enough. The application ran there. The database ran there. The message infrastructure ran there. Backups existed. Monitoring was in place. We had redundancy inside the region. From an infrastructure perspective, the system looked…
The application was healthy. CPU was normal. Memory was stable. The database was performing well. Internal services were responding within their expected latency. And yet one part of the system was getting slower. Payment requests. At first, we looked at…
The requirement sounded simple. We needed to add a new column to a production table. The table had more than a billion rows. The business couldn’t afford hours of downtime. And we couldn’t simply stop the application, modify the database,…
