Patent ID: 11055292

Abstract:
A market data processing device (MDPD) receives, from an upstream device, an input feed of order-book updates to ticker symbols. A first market-data feed is generated at the MDPD at least in part by: filtering the input feed down to order-book updates to a ticker-symbol subset; and inserting a sequence number into each such order-book update. Also generated at the MDPD is a second market-data feed that includes the order-book updates of the first market-data feed having the same sequence numbers inserted into the same order-book updates. The first market-data feed is transmitted to an arbitration device via a first communication path. The second market-data feed is transmitted to the arbitration device via a second communication path that is separate and distinct from the first communication path for use by the arbitration device in conducting sequence-number-based arbitration between the first and second market-data feeds.