EPAM
Deltix

TradeHub

Fastest, most advanced order management and execution platform, built on nearly 20 years of trading tech expertise.

Normalized market data and order entry APIs to over 150 trading venues

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Internal end-to-end latency measured in single-digit microseconds

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Reliable processing of 120,000 trading requests per second under sustained load

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Multiple API options: Java, FIX, REST, and WebSocket

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Use TradeHub for:

OEMS
Trading Algorithms
Custom Dark Pools/Matching Engines
Smart Order Routing
FIX Market Data Gateway
Transaction Cost Analysis

OEMS (Trade Hub)

Ember’s Trade Hub serves as a unified, normalized API gateway to diverse markets across most asset classes — ranging from exchange-traded synthetics to cryptos. Trade Hub offers extensive API support with FIX 4.4 / 5.0 and REST / WebSocket gateways, complete with Java, Python, and JavaScript sample code to simplify integrations.
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Trade Hub’s order-entry capabilities include robust Risk controls, configurable Kill Switches, multi-projection Position tracking. It supports SMART order routing and provides out-of-the-box execution algorithms like TWAP, VWAP, PVOL, and ICEBERG. For this use case Ember provides Java SDK to develop custom execution algorithms and implement functionality like internal order crossing based on customer specs. 
 
Trade Hub supports Executable Streaming Prices (ESP) with Market-by-Price and Market-by-Order depth and Request for Quote (RFQ/RFS) workflows. It provides advanced Market Simulation capabilities that enable back testing and real time paper trading.

Trading Algorithms

Ember provides a Java SDK for building custom execution co-lo algorithms. Its  normalized APIs for market data venues, order book interactions, and order entry offer a reliable abstraction layer. Combined with market simulators and the ability to debug code directly in IntelliJ IDEA, Ember significantly reduces time to market.
 
Cross-connected Ember instances can be deployed in different data centers around the world, enabling various market-making and arbitrage strategies.
 
Ember includes a set of standard algorithms, such as smart ICEBERG,  market-chasing TWAP, VWAP, and Participation Volume (PVOL), all built using the  Algo SDK.
 
Additionally, Ember provides FIX and REST WebSocket APIs for implementing  trading logic externally in Python, Java, JavaScript, and other languages.
 
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Custom Dark Pools/Matching Engines

Ember can be used to implement low-latency matching engines, with matching logic programmed using Ember's Algorithm SDK (Java). The following types of solutions have been successfully built:
 
  • Central Limit Order Book (CLOB) matching engines (a CLOB sample is included  in the SDK).
  • Internally crossing matching engines that maintain passive orders in the book and route aggressive orders to external venues when opportunities  arise.
  • Matching engines with RFQ capabilities.
 
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Matching engines typically publish Market-By-Order price feeds to TimeBase. Ember can then rebroadcast these feeds via the FIX Market Data Gateway to matching engine participants. With Ember's optimized architecture, the end-to-end latency for order-to-fill operations can be as low as 5-6 microseconds, measured at the OS network layer.

Smart Order Routing (SOR)

Ember includes a standard Smart Order Routing (SOR) algorithm designed to optimize execution across multiple exchanges. For a given order quantity, the SOR algorithm constructs an execution plan by evaluating the following factors  for each exchange:  
 
  • Available liquidity, starting from the top of the book
  • Commissions charged by the exchange (e.g., maker/taker fees, trade volume  discounts)
  • Available account balance on the exchange
  • Recent rejection statistics for the exchange
  • Per-exchange security metadata, including order price precision, quantity precision, minimum order size, and more
     
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FIX Market Data Gateway

When combined with TimeBase, Ember can be used to redistribute market data to  numerous FIX clients (commonly referred to as "FIX Fan-out"). Market data can be ingested into TimeBase from a variety of markets and protocols, ranging from ITCH and MDP to WebSocket, and then redistributed to interested parties in a normalized FIX format.
 
 
 
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Depending on the specific needs of different client groups, Ember can distribute aggregated and consolidated order books, broadcast Market by Order (Level 3) and Market by Price (Level 2) feeds with configurable depth (limited or unlimited) and throttling. Its highly efficient FIX engine and gateway design enable feeding data to hundreds of clients seamlessly.

Transaction Cost Analysis -TCA

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Transaction Cost Analysis (TCA) analyzes advanced real-time algorithmic orders. It allows you to measure execution costs against various benchmarks (e.g., arrival price, VWAP) to compare the performance of different execution strategies. 
 
The TCA service includes a rich gallery of charts, visualizations, and reports, which can be downloaded in CSV and PDF formats.

Integration with 150+ market venues

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