Build Your Own Trading Exchange
MyExchange is our new high performance exchange engine which is programmatically customizable, allowing developers to create their own custom stock, forex, futures, sports or fantasy trading exchange. MyExchange is available as both a source code framework and as a complete turnkey exchange package, custom designed to your specific requirements and setup in the cloud hosting environment of your choice by our exchange engineers located in the United States.
What can you do with MyExchange?
Hosting your own exchange allows you to list securities, set your own rules and regulations, set your own pricing, create and administer your own trading members, manage your own record keeping and reporting, perform your own market-making, own and sell your own real-time and historic data, issue your own IPOs, partner with other exchanges and perform any function that is legally permitted (please note that certain real exchanges may be regulated and may require registration). You can also program your own logic to prevent flash crashes, institute your own trading curbs, or prevent rogue trading behavior that goes against your exchange's rules.
With MyExchange, it's your exchange.
Developing an exchange engine is no trivial task. An exchange must take into account complex logic and data processing, such as with complex orders, partial fills, cancels, rejections, complex order types like Good-Till-Cancelled, One-Cancels-Other, Trailing Stops, and other order types and times in force. It must address risk management, security, data handling, multithreading, networking, scalability, and redundancy. The list goes on. Also, if you are seeking approval from a government regulatory body to prove that your exchange is fair and not rigged against participants, then you need expertly designed, professionally developed, highly documented commercial open source code from a reputable financial technology firm like Modulus in order to pass such audits.
Advanced Trading Technology
Technology has come a long way since the stock market was invented in 1792. MyExchange uses the latest in technology to offer the highest possible performance. If you're planning to develop an exchange engine, MyExchange is the foundation you need to build it, allowing you to focus on the development of your core offering, as our engineers have thought of everything. Take fragmentation for example. MyExchange can detect and prevent predatory dark trading by direct access traders that drive liquidity off the book. It can also be implemented to provide liquidity fragmentation so that venues can specialize for various participants. MyExchange also moves large blocks with absolutely zero trade leakage.
MyExchange consists of a very robust set of C# applications. The server has been tested with a simulated load of 10,000 simultaneous clients per instance, which can be scaled to hundreds or thousands of servers.
Our exchange engineers worked for two years to develop MyExchange from the ground up to address issues that exchanges are currently facing. Our engineers created multiple code-bases before settling on a final design, which we believe to be the simplest, most powerful, and most scalable solution possible, with the lowest total cost to ownership and lowest cost of maintenance.
The core engine of MyExchange is so highly optimized, it's on par with the most renowned stock exchanges, including the NYSE and NASDAQ.
Over the years, we've developed several stock exchanges around the world. Our engineers strongly believe the latest version of MyExchange is scalable enough to run a global exchange.
MyExchange offers the lowest latency and the highest throughput of any exchange engine available, with the ability to process billions of messages per second. Latency can be measured in nanoseconds.
Yes. It is that good.
Exchanges vs. ECNs
While MyExchange can be used to create an actual trading exchange, it can also be used to create an ECN, which is a system that facilitates trading outside of an actual exchange.
How do ECNs and exchanges differ? Exchanges can list securities, but both exchanges and ECNs can orchestrate transactions, collect transaction fees, and produce and sell market data. Exchanges govern themselves with their own regulatory arms. ECNs on the other hand, are regulated by both the SEC and a national securities association (to which any registered broker-dealer is required to belong).
Real-Time Data on the Desktop or Web
MyExchange comes with a built-in WebSocket data server to power both desktop and web applications with streaming real-time data. Your exchange can power desktop, web, and mobile clients all at once.
MyExchange comes with a data server, an HTML5 client, a desktop client, risk engine, order matching engine, database manager, and other projects. We provide one-on-one developer setup, support, and training via desktop sharing, so you can get your exchange set up and running in no time. The ability to run on commodity hardware or host in the cloud with Amazon AWS, Azure plus other providers makes deployment extremely simple and cost effective. We offer private cloud hosting and can build and manage private cloud infrastructure with no vendor lock-in. All things considered, MyExchange should save you between 3,000 to 4,000 hours of programming time and server setup time, if not more.
You can customize the risk engine, order matching engines, or any other project to suit your needs. MyExchange is extensible and versatile, designed to help save you time and reduce your time to market.
We're constantly developing and improving our products. MyExchange has recently been updated to support additional order types and to improve scalability. The latest version is 17% faster than previous versions.
The latest version of MyExchange supports Market orders, Limit orders, Stop orders, Stop Limit orders, Market to Limit, Market if Touched and other order types. It also supports partial fills, cancels, and rejections with the built-in risk engine.
Saves Time and Money
If you've attempted to develop your own ECN / exchange from scratch, you've probably experienced pain and difficulty. MyExchange can help you avoid the difficulties of developing an exchange and will probably hasten your time to market.
Extremely Secure - Stanford Remote Password Protocol
MyExchange uses SSL and is secured by the Stanford Remote Password protocol (SRP), which performs secure remote authentication of short human-memorizable passwords and resists both passive and active network attacks. SRP is used under license in MyExchange. You can read more about SRP at http://srp.stanford.edu/
MyExchange also uses triple DES and twofish encryption algorithms. For more info about security, see our security white papers collection.
Get Started with MyExchange >
- Q. What programming languages do I need to know in order to use MyExchange? A. You only need to know C# to customize, compile, and install MyExchange.
- Q. Which third party libraries are used in MyExchange? A. NLog, log4net, Newtonsoft JSON, and SuperWebSocket.
- Q. Does MyExchange require an SSL certificate? A. Yes, unless you disable SSL (not recommended).
- Q. Does MyExchange come with an administrator program? A. Yes, it comes with a WinForm-based admin panel, which allows you to create users, manage and delete accounts, view active users, view a log and more.
- Q. Does the data server come with test units and an architecture diagram? A. Yes.
- Q. Where does MyExchange store data? A. Data is saved and loaded to and from an encrypted database. MS SQL is supported by default but can be changed to MySQL or Oracle. The "users" table contains all registered users identified by the unique key: (email, account?). The "accountinfo" table contains additional information to calculate buying power, profit/loss, and current balances. The "orders" table contains a list of all "place order" requests. The "reports" table contains list of all execution reports. Upon startup, MyExchange loads all execution reports into memory to initialize the exchange. MyExchange updates tables in the database for every transaction, so the database always contains actual live data.
Deployment & Regulation
MyExchange can be hosted on any Windows Server. Your clients can access your exchange service using regular http or https with SSL. It comes with built-in security and client access policies.
Please note that MyExchange may not be used for converting cryptocurrency into real currency or vice versa without proper licensing and regulatory oversight. MyExchange may also not be used for sports betting or gambling of any type. Check with all local laws and consult with an attorney before developing your exchange.
Why Choose Modulus?
Modulus is a financial technology company. While that may not sound like a real differentiator, it is. It means that our solutions come from our years of experience in the financial technology industry. Our products and services are provided by developers and engineers who have first-hand trading experience. Everyone here at Modulus speaks your language.
Read more about us.