Exchange Tools

Analysis Tools for Deutsche Börse AG markets

New architectures, successively introduced by exchanges, create huge technological challenges for their members, while simultaneously opening up interesting new chances. Deutsche Börse AG delivers with the introduction of the T7 trading system no longer any software for the market’s API access, but offers simply a number of APIs for reference data, market data and transactions instead. With our Exchange Tools, these APIs can be accessed for test and analysis purposes. Technical and functional aspects of the interfaces become combined. Live recording of data is feasible as well as  retrospective analysis of redorded data streams. Workflows can be simulated with the transaction interfaces including automated performance tests with mass generated orders and cancellations.

Exchange Tools Details

Advantages at a glance

  • Validation of Deutsche Börse AG documentation
  • Non-invasive analysis of streaming data, in parallel to actual trading applications
  • Streaming data can be analysed live or from canned recordings
  • Metricsshow data stream status
  • Different API versions can be tested in parallel by choosing the proper template versions
  • Interactive communication with trading sessions
  • Search and filter for specific message types
  • Orders and cancellations can be created and submitted automatically, even in large numbers and high speed for mass- and performance tests
  • Comprehensive test capabilities of trading interfaces with arbitrary test messages and visualisition of received respones
  • FIX sessions can be tested in FIX 4.2 and FIX 4.4 format
  • Comprehensive analysis capabilities for FAST data streams, even across two multicast streams with control of ordering and comparison of sequence numbers
  • Test- and analysis features may be individually licensed and combined
  • Easy deployment with small footprint, can be installed by customer
  • Platform independend by use of Java native PCAP drivers

Reference Data Handling

Reference data can be sourced from downloaded files or from a live stream. They are splitted by type and content to csv files used by the other components, in order to translate encoded values in messages.

  • RDF – reference data files are downloaded and interpreted from CRE
  • RDI – reference data are directly consumed from FAST encoded RDI stream

Market Data Handling (FAST)

Market data messages are decoded and either displayed on console or stored in files.

  • MDI – Messages from Market Data Interface can be decoded
  • EMDI – Messages from Enhanced Market Data Interface can be decoded
  • EMDS – Messages from Extended Market Data Service can be decoded
  • Ticker, Market Signals – Messages from these services can be decoded

Market Data Handling (Binary)

EOBI – Messages from Extended Order Book Interface can be decoded

Trading Interfaces

  • FIX – Messages in FIX 4.2 or FIX 4.4 format can be created and submitted – received messages are decoded
  • ETI – Messages in ETI format format can be created and submitted – received messages are decoded

Clearing (C7)

AMQP/FIXML – Messages based on AMQP can be created and submitted in Request/Reply fashion. Broadcasted or received reply messages are decoded.

Repo (F7)

AMQP Repo – Messages based on AMQP can be created and submitted in Request/Reply fashion. Broadcasted or received reply messages are decoded.

  • Join multicast group for receiving and analysing data
  • PCAP Live Capture – non-invasive analysis of data packages that are received by another application
  • PCAP File Capture – analysis of previously recorded data traffic. This can be evaluated retrospectively without existing connection.

Exchange Tools – Deutsche Börse AG Markets

  • Xetra T7
  • Eurex Exchange T7
  • Eurex Clearing C7
  • Eurex Repo F7

The tools can be expanded to cover other markets at different exchanges that distribute market data via IP multicast e.g. NASDAQ OMX und NYSE Euronext or accept transactions via FIX gateway e.g. XONTRO. More information about markets at Deutsche Börse AG can be found here.