Low Latency DMA

Ryuusei
Low Latency DMA Application
Ryuusei is high-frequency direct market access system (DMA) that allows the brokerage houses to provide no-touchstock exchange access for their clients viz., the buy-side companies. Ryuusei is presently functional at Daiwa
Securities, Tokyo and has proven to be very stable and able to handle high throughput; close to two million orders
per day and around 6 million messages per day. The modules implemented also include comprehensive risk checks,
high-availability and a FIX interface. The order processing time is in the order of 50 micro seconds.
Apart from handling common stocks (cash equities) it also handles CB’s, margin orders, multiple-accounts andposition-based risk checks for margin orders in addition to the standard risk checks for the automated orders.
Ryuusei also does FIX routing for venues that are not the co-location environment (simple destination based orderrouting using FIX protocol) and pre-market open queuing functionality.
High Frequency DMA System Components

FIX Client

Products: Equities, CB, Margin

Equities
Margin100 μsecs
Latency:Real Time
Synch func.
ForFIX EngineAll inclusive

OMS*1

Throughput: Limited byExchange parameters

HighAvailability

Risk Checks

OS, CPU: 64-bit RHELuLine Handler

Intel Xeon

取引Features:

取引ハンド

Fully Automated DMA System, Comprehensive Risk Checks

ラー

Automated Fail-over,Extensive Monitoring Tools

Exchange

株式・債券

Real Time Price Feeds

取引ビジネ

Market Regulations compliant

スのための*1: Order Management System

Drop Copy feed to Middle Off

取引

市場直接ア
クセス
関連記事: http://fixprotocol.org/discuss/read/b69470ab(DirectMarket
Access:DMA)システ
ムは証券会社（通常“セル・サイPage 1Low Latency DMA

The following components of a standard DMA architecture are implemented in Ryuusei :1. FIX Engine: However native-protocol based solutions to further achieve ultra-low latency are offered as acustom service. (It would be possible to reduce the latency by about 25% if native protocol is used).
1. Order Management System: The core of the system which manages orders going to the exchanges (andresponses coming back from the exchanges). Manages the state of all the orders and executions in its cache.
2. Risk Checks : Ensures that all orders going through to the exchange are subjected to compliance checks toreduce risks (credit, operational, compliance risks as stipulated by different financial regulatory authorities)
3. Exchange connectivities or Line-handlers: This is exchange-specific component in Ryuusei that is specifically
written for each exchange based on its native protocol.
4. Automated fail-over or hot-standby : Optional high-availability feature. Ryuusei guarantees absolutely nomessage loss in case of HW or OS failure. Application recovery takes less than 30 seconds.
5. Feed-handler : Automated market price feeds for current stock prices.
6. Drop-copy feeds: This stores all the trade details in a database for settlement processing ( in a non-intrusive
way so that it does not affect latency figures ).
7.

Monitoring: Extensive monitoring for support related activities. In brief the following features are part ofdefault monitoring: session monitoring, Order details of active orders, Single-or-bulk cancel etc.

Page 2