Understanding the Price Feed
Price Server Data Flow
The following is a description of market data flow from the Price Server to the Exchange host:
- The Price Server starts and creates a new Price Server log.
- The Price Server reads the hostinfo.cfg file to determine the host connection information and its behavior when logging to the TOCOM log files.
- The Price Server logs into the TOCOM host using the ID from the hostinfo.cfg file. It writes this login information to the Price Server log.
- Using X_TRADER®, a trader logs into the TOCOM Gateway.
- The trader opens Market Explorer and subscribes to one
or more products. This information is passed to the Price Server,
which then subscribes to the inside market data for these particular
Inside market data consists of a set of contract attributes and includes Best Bid, Best Ask, Last Traded Price, etc.
- The TOCOM host sends only the price and product information to which the Price Server subscribed.
- Using a unique multicast group, the Price Server broadcasts
the inside market data received from the TOCOM host.
When a trader opens a MD Trader®, the Price Server also subscribes to market depth. Usually, the front months support Market Depth subscriptions. Most options do not support Market Depth subscriptions.
- The Price Server continues to multicast product and price information for which there are X_TRADER® subscribers.