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USE CASE

Post-Trade Registration and Matching for Exchange

Home » Use Cases » Post-Trade Registration and Matching for Exchange

A major commodities exchange had decided to build a new version of its matching system to support a number of new requirements as well as update and rationalise functionality of the system, making it a more flexible and adaptable platform. These new requirements included compliance with MiFID II, a revised booking model (T2), new trade strategies, and price banding.

The system had to serve as a post-trade registration and matching service for all three of its trading venues, namely electronic, in person, and telephone (inter-office).

Its general functionality includes:

  • Accept trade halves from user input or electronic trading
  • Carry out validation
  • Match trade halves
  • Send matched trade halves for clearing
  • Receive back confirmation that trade has been cleared
  • Notify interested parties when the trade is matched and cleared

The matching system also provides a number of reporting and maintenance interfaces for the exchange and other exchange systems.

This was a large and long-running project that involved a team of developers working together on the different components of the system. These included both back-end services, the most significant being the matching engine, as well as front-end web applications. Extensive integration testing was required to ensure these all worked together correctly.

The system was implemented in C# and TypeScript/JavaScript, using various frameworks and libraries.

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Why the markets choose Sinara

  • 35 years’ experience across the trading lifecycle
  • Pre-built trading modules accelerate speed to market
  • Software expertise to customise complex integrations 
  • Everything is 100% supportable and sustainable

We are the trade engineering people.

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Whether you have detailed requirements for your new business IT solution or wish to discuss your initial thoughts and ideas, contact us to see how Sinara can help.

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