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The Key Server

Overview

The Key Server supplies unique order keys to all machines on the network that run X_TRADER®, regardless of which TT Gateway hosts the X_TRADER® connection. The TT Trading System uses these keys to uniquely identify each order as it moves through the system

Key Distribution

When active, the Key Server distributes two unique keys to each TT application on the network. The TT application appends the key to each order that it submits as a unique identifier. This key remains with the order when it enters the market, when it becomes a fill, and when it is returned.

When X_TRADER® first starts up in a TT Trading System, it sends a multicast request for a pair of keys. When a Key Server receives this multicast request, it sends a pair of keys to X_TRADER® via point-to-point communication (Unicast).

Because the key request is sent via multicast, all Key Servers on the network receive the request. To maximize order speed to market, the first Key Server able to respond to the key request does so.

Example

A customer has TT LIFFE Futures, TT eCBOT, and TT Euronext Futures Gateway on his network. An eCBOT trader submits an order. Due to processing loads, the TT LIFFE Gateway can deliver a key faster than the TT eCBOT Gateway. The TT LIFFE Gateway sends the key, and the eCBOT order carries a key generated by the TT LIFFE Gateway.

To reduce network traffic, TT applications (i.e., X_TRADER®) use the two keys received from a Key Server for the next 1,998 trades (999 trades for each key). Each time a trade is submitted, X_TRADER® appends a new three-digit number to the key, starting with 001 and ending with 999. Whenever X_TRADER® reaches 999, it multicasts a request for a new key.

Key Server Setup

To maintain uniqueness, keys cannot have the same value. Thus, the key range available to each active Key Server on the TT Trading System must not overlap. To help prevent this situation from occurring, TT has preset the key range for each market.

Because all TT Gateways of the same type (e.g., all TT CME Gateways) install with the same key range, Trading Technologies recommends that you run only one Key Server per market, regardless of the number of TT Gateways that you use to connect to the market.

Warning

You must run at least one Key Server on the TT trading network.

If you do run more than one Key Server per market, you must configure the key range to eliminate overlapping key ranges and ensure that each Key Server has a substantial amount of available keys.