Patent ID: 10162689

Abstract:
The disclosed embodiments relate to regulation of receipt, rate or volume, and processing of messages, such as order, mass quote or other trade related messages by available trading system resources to minimize congestion, maximize efficient use, minimize unfair monopolization and ensure fair access to/allocation thereof. The disclosed embodiments may act as a governor limiting the maximum rate of message submission to the rate at which the submitted messages can be processed. In particular, the number of concurrent, i.e. received/accepted but not yet completed/processed/responded to, messages may be limited. As long as the limit is not exceeded, i.e. the rate of completion/processing meets or exceeds the receipt rate, no interruption may be imposed. However, once the limit is reached, subsequently received messages may be buffered or otherwise dropped. In this way, the limit may define the extent to which incoming messages may consume the concurrent processing capacity, or allocated portion thereof.