exchange-connectivity
Exchange Connectivity
Purpose
Guide the design and management of connectivity to trading venues and market data sources. Covers FIX session management, market data feed architecture, exchange protocols, trading halts and circuit breakers, symbology and reference data, and connectivity resilience. Enables building or evaluating trading infrastructure that maintains reliable, low-latency connections to exchanges, ATS venues, and market data providers.
Layer
11 — Trading Operations (Order Lifecycle & Execution)
Direction
both
When to Use
- Designing or evaluating connectivity architecture to one or more trading venues (exchanges, ATS, ECNs)
- Configuring or troubleshooting FIX sessions for order routing or drop-copy feeds
- Building or integrating market data infrastructure (consolidated feeds, direct feeds, vendor feeds)
- Implementing handling logic for trading halts, circuit breakers, and LULD bands in order management or execution systems
- Mapping symbology across venues and data sources (ticker, CUSIP, ISIN, SEDOL, FIGI)
- Planning co-location, proximity hosting, or extranets for low-latency connectivity
- Designing failover, redundancy, and disaster recovery for exchange connectivity
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