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Pure FPGA Market Data Solutions

NovaSparks Platform

FPGA Matrix Architecture

An Architecture built for Speed and Scalability

When deterministic latency is critical, the goal is to avoid the bottlenecks inherent to CPU-based implementations and to maximize the use of FPGA’s even though the data is coming from multiple markets. Designed for time-sensitive trading strategies such as Market Making, Statistical Arbitrage or Algorithmic Trading, the NovaSparks platform adopts a pure FPGA architecture engineered to unleash the highest speed and enable trading firms to maximize the returns on their strategies.  Very often, one FPGA is not enough to manage all the local or remote market feeds, resulting in a partial access to the instrument list and/or a use of the FPGA limited to the basic parsing & decoding functions of the feeds.

Our pure FPGA approach uses an expandable matrix of FPGA nodes that removes the limitation of the single FPGA approach in terms of capacity (i.e. the number of instruments) and processing power (i.e. the part of the trading cycle which can be accelerated by FPGA).

Each FPGA node comes with its own set of Inputs/Outputs and memories and this modular matrix allows the system to grow proportionally across multiple market feeds.

As a result, all functions of the market data parsing, book building, filtering and distribution can be done in hardware without bottlenecks, irrespective of the number of feeds received or the number of instruments to be supported. Also the performance of the FPGA matrix is not affected by the rate of data coming from the feeds or the number of downstream consumers.

Key Advantages

  • When in need for optimized speed, it is important to consider the complete set of functions required to receive, manage and distribute data coming from multiple markets
  • A pure FPGA design that utilizes a modular FPGA approach to scale capacity, can maintain nanosecond speeds even during market microbursts regardless of the number of market data feeds and instruments to be processed
  • The resiliency nature of the pure FPGA approach is amplified/magnified when multiple market feeds are consolidated within the FPGA Matrix

Note that software feed handlers can still be used to manage low data volume markets before consolidation in the FPGA matrix.

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