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Altera FPGAs for Financial Applications from Altera (now part of Intel)
These devices optimize trade execution and market data processing speeds and reduce latency, crucial for high-frequency trading environments.
More about Altera (now part of Intel)
Product analysis by function
FPGA and ASIC Solutions for Market Making/Proprietary Trading
Specialized hardware accelerators using Field-Programmable Gate Arrays or Application-Specific Integrated Circuits to achieve ultra-low latency for critical trading functions.
More FPGA and ASIC Solutions
More Market Making/Proprietary Trading ...
Latency & Performance
(3 Yes /3 Known /10 Possible features)
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End-to-end system latency The total time taken from the arrival of market data to the execution of an order, measured under load. |
No information available | |
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Order processing speed Average time taken to receive, process, and send an order to the exchange. |
No information available | |
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Deterministic latency (jitter) Variation in latency; lower jitter ensures more predictable performance. |
No information available | |
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Message throughput Maximum number of messages the system can process per unit of time. |
No information available | |
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Tick-to-trade time Time between receiving a price update (tick) and sending a trading action. |
No information available | |
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Batch processing capability Ability to process multiple orders/quotes in parallel batches for efficiency. |
Parallel/batch processing is inherent to FPGA architecture, enabling multiple order/quote operations in parallel. | |
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Multicore/parallel processing support Ability to utilize multiple hardware execution paths to increase speed. |
Multicore/parallel processing, either via logic duplication or hardware multithreading, is possible and exploited in FPGA solutions. | |
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Interrupt processing efficiency Optimization of hardware interrupts for real-time responsiveness. |
FPGA designs for finance optimize interrupt and real-time event handling, a standard practice. | |
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Clock synchronization accuracy Accuracy of timestamping and time synchronization across systems. |
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Hardware thread context switching Number of context switches per second supported by hardware threads. |
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Connectivity & Protocol Support
(6 Yes /6 Known /10 Possible features)
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Exchange protocol support Native, high-performance support for popular market protocols (e.g., FIX, OUCH, ITCH, XPRS, proprietary protocols). |
Altera FPGAs are widely used for native protocol support (FIX, ITCH, OUCH, etc) in financial use cases. | |
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Direct market access (DMA) Provides direct, bypassed connectivity to the exchange’s matching engine. |
Direct market access is a key FPGA financial application; most vendor applications provide hardware-level DMA connectivity. | |
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Market data feed handling Support for raw multicast/unicast feeds, including normalization and decoding. |
Handling multicast and unicast market data feeds is a primary use of Altera FPGAs in HFT infrastructure. | |
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Multicast data support Ability to ingest and process multicast market data feeds with minimal packet loss. |
Multicast data support is fundamental to low-latency market data feed handling with FPGAs. | |
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Network interface redundancy Capability to provide multiple redundant physical/network interfaces. |
No information available | |
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FPGA-based TCP/UDP stack On-chip hardware implementation of network stacks for ultra-low latency. |
FPGA solutions for finance regularly implement TCP/UDP stacks in hardware for lowest latency (on-FPGA stack). | |
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Feed handler capacity Maximum number of concurrent feeds supported. |
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Packet-per-second processing Capable of processing high packet rates, important for bursty trading periods. |
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Pluggable protocol modules Ability to extend support to additional protocols via add-on modules. |
FPGAs can be configured to support pluggable/extensible protocol parsers. | |
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Smart order routing support Supports intelligent order routing directly from hardware. |
No information available |
Order Management & Execution
(3 Yes /3 Known /10 Possible features)
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Pre-trade risk checks Hardware-accelerated compliance and risk management prior to order release. |
FPGA market gateway solutions routinely provide hardware-accelerated pre-trade risk checks for compliance. | |
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Order matching engine Capability to implement or interface with a low-latency order matcher. |
FPGA-based matching engines are used by exchanges and ultra-low latency brokers using Altera hardware. | |
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Cancel/replace speed Time required to cancel or replace an order. |
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Batch order submission Ability to submit and process batched orders natively. |
Batch order submission is a primary capability and use-case for these devices. | |
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Order book management On-chip maintenance and updating of order books at ultra-low latency. |
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Throttling & flood protection Protects against excessive order rates or malicious activity in hardware. |
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Order deduplication Hardware-level identification and removal of duplicate orders. |
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Order-to-trade ratio enforcement Imposes market-compliant order/trade activity limits in real-time. |
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Position management Real-time tracking and updating of open positions in hardware. |
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Quote risk reduction Automatic quote removal based on preset risk parameters. |
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Product Flexibility & Customizability
(7 Yes /7 Known /10 Possible features)
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Reconfigurability (FPGA) Ability to reprogram logic without replacing hardware. |
Reconfigurability (partial and full) is a design feature of Altera (now Intel) FPGA platforms. | |
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Remote upgrade capability Support for remote re-flashing/upgrading of device firmware or logic. |
Remote upgrades are standard across major FPGAs for financial deployments, as per Intel documentation. | |
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Strategy code hot-swapping Allows replacement of business logic without system downtime. |
No information available | |
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Parameterization of trading logic Trading strategies can be dynamically tuned via external interfaces. |
Trading logic can be parameterized dynamically with FPGA design and configuration tools. | |
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Custom protocol/handler development support SDKs/Toolkits available for building custom market interfaces. |
Intel/Altera provides industry-standard SDKs and toolkits for custom protocol handler development. | |
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Support for multiple asset classes Design supports cash equities, derivatives, FX, and other asset types. |
Multiple asset class support is available as part of reference FPGA financial solutions. | |
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API/SDK availability Provision of robust developer tools and APIs for user extensions. |
Altera FPGAs are supported by comprehensive APIs and toolkits for developer integration and extension. | |
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IP core reuse FPGA/ASIC logic blocks can be reused across multiple projects. |
. | No information available |
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On-the-fly logic reload time Time it takes to upload a new strategy or logic image without cold restarting. |
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Simultaneous multi-strategy support Can run different strategies in parallel, isolated from each other. |
Parallel multi-strategy support is possible via design partitioning in FPGA; promoted in financial use cases. |
Reliability, Redundancy & Fault Tolerance
(0 Yes /0 Known /10 Possible features)
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Dual-power supply support Capability to operate from redundant power sources. |
No information available | |
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Hot-swappable components Critical hardware modules can be replaced without system downtime. |
. | No information available |
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Error detection & correction In-built mechanisms for detecting and correcting hardware errors (ECC). |
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Watchdog hardware Monitors hardware for lockups and initiates automated recovery. |
. | No information available |
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Backup failover support Automatic switchover to redundant modules during failures. |
No information available | |
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Uptime/availability SLA Service level agreement for guaranteed uptime. |
. | No information available |
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Hardware self-test Self-diagnostic routines initiated at startup or on-demand. |
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Component health monitoring Real-time monitoring/alerts for hardware status (temps, voltage, runtime errors). |
. | No information available |
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Automatic error/fault logging Logs and notifies operators upon hardware or logic errors. |
. | No information available |
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Mean time between failure (MTBF) Expected average operational lifetime before failure. |
. | No information available |
Security & Compliance
(1 Yes /1 Known /10 Possible features)
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Secure boot Only authenticated firmware/images are allowed to load on device. |
. | No information available |
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Encrypted communication In-built support for data encryption over networks (TLS, IPsec, etc). |
No information available | |
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Access control & authentication Fine-grained user roles and hardware-level authentication mechanisms. |
No information available | |
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Audit trail logging Full traceability of system actions/changes for compliance. |
. | No information available |
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Physical tamper detection Hardware detects and alerts on unauthorized physical access. |
Physical tamper-detection is available as part of some FPGA-module SKUs, especially in colocation/HPC. | |
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Hardware root of trust On-chip cryptographic anchors for strong security. |
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Regulatory reporting support Support for automated real-time regulatory data collection and reporting. |
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Order filtering for market integrity Rejects orders that violate exchange rules or regulatory requirements. |
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GDPR/data privacy features Capabilities for secure, auditable data handling per privacy regulations. |
. | No information available |
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Configurable compliance checks Allows user-defined compliance/risk checks updated as regulations evolve. |
. | No information available |
Monitoring, Analytics & Diagnostics
(2 Yes /2 Known /10 Possible features)
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Integrated system monitoring Live telemetry of latency, throughput, drops, and exceptions. |
. | No information available |
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Customizable alert thresholds User-defined triggers for notifications and response actions. |
. | No information available |
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Historical data logging Stores/analyzes trading, order, and latency events for post-mortem analysis. |
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Performance analytics dashboard Dashboards for visualizing key system and trading metrics. |
FPGA-based HFT/market appliances provide low-latency dashboards for performance analytics. | |
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Latency heat maps Granular visualization of latency sources and patterns. |
. | No information available |
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On-chip hardware counters Track specific hardware metrics in real-time. |
. | No information available |
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Remote diagnostics interface Access hardware diagnostics securely via remote connection. |
. | No information available |
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Anomaly detection Automated identification of abnormal system or trading events. |
. | No information available |
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Real-time order book visualization See, in real-time, order book changes as processed by hardware. |
. | No information available |
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Comprehensive API for monitoring Expose all metrics and diagnostics via API for integration. |
Comprehensive API exposing performance and telemetry is standard in Intel FPGA-based trading solutions. |
Integration & Ecosystem Support
(4 Yes /4 Known /10 Possible features)
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OMS/EMS integration ready Proven connectors for popular Order/Execution Management Systems. |
. | No information available |
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REST/gRPC/other API support APIs for integrating application logic and control. |
REST/gRPC and other API integration is possible via surrounding architecture/tools around Altera FPGAs. | |
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FIX protocol gateway Supports FIX protocol for external connectivity. |
FIX protocol support is a staple of exchange and broker FPGA appliances. | |
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Custom integration SDK SDK provided for bespoke integrations. |
. | No information available |
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Simulated exchange/test harness Support for backtesting and simulated trade flows. |
. | No information available |
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Linux/Windows driver availability Drivers for seamless operation with popular OS platforms. |
Linux and Windows drivers are available and necessary for programmable deployment with Altera/Intel FPGAs. | |
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Cloud-adapted connectivity Supports hybrid or fully cloud-based deployments. |
. | No information available |
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Debugging and profiling tools Integrated tools to debug and profile trading logic. |
. | No information available |
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Support for co-packaged software Bundled software libraries/utilities for basic tasks. |
. | No information available |
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Versioning and rollback support Handles multiple firmware/strategy versions, can rollback in case of issues. |
Modern FPGA management consoles support firmware/logic versioning and rollback as fail-safe. |
Hardware, Footprint & Deployment
(0 Yes /0 Known /10 Possible features)
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Power consumption Typical or maximum power draw under load. |
. | No information available |
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Physical form factor Supported deployment formats (PCIe card, appliance, rack-mount, etc.) |
. | No information available |
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Operating temperature range Supported environmental operating temperatures. |
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Size/dimensions Physical size of the hardware unit. |
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Rack density Number of deployment units per rack. |
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Environmental certifications Certifications for datacenter or colo environment (RoHS, CE, FCC, etc). |
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Noise level Acoustic noise output for deployment environments. |
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Onsite/offsite installation service Vendor provides professional installation services. |
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Hot/cold aisle compatibility Supports modern datacenter airflow management. |
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Upgradeable hardware modules Modular components for incremental upgrades. |
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Vendor Support & Service
(0 Yes /0 Known /10 Possible features)
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24/7 technical support Round-the-clock access to technical assistance. |
. | No information available |
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Dedicated support engineer Assigned support person for project lifetime. |
. | No information available |
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Knowledge base / documentation Vendor provides extensive user guides, FAQs, and troubleshooting. |
. | No information available |
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On-site training Training delivered at the client’s site. |
. | No information available |
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Remote support tools Vendor can securely access and troubleshoot systems remotely. |
. | No information available |
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Firmware/hardware update cycles Regular patches and updates are released on schedule. |
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Community support/user forums Active user forums or groups. |
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Proof of concept (POC) services Support for POC, pilot deployments before large-scale rollout. |
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Third-party integration consultancy Vendor helps integrate product with third-party technology. |
. | No information available |
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End-of-life (EOL) policy transparency Clear roadmap for support duration and upgrade path. |
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Cost & Commercial Considerations
(0 Yes /0 Known /10 Possible features)
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Initial hardware cost Upfront purchase price of the system. |
. | No information available |
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Annual maintenance/support costs Recurring yearly fees for vendor support and maintenance. |
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Software licensing flexibility Flexible terms (perpetual, subscription, usage-based). |
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Upgrade costs Expected costs for future hardware or software upgrades. |
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Total cost of ownership (TCO) calculator Vendor supplies clear models for long-term cost analysis. |
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Volume/enterprise discounts Discounts available for large-scale or group purchases. |
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Warranty duration Duration of included manufacturer’s warranty. |
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Lease or rental options Non-purchase acquisition models available. |
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Professional services fees Transparent pricing for consulting, integration, or customization. |
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Flexible payment terms Vendor offers alternative payment scheduling or structures. |
. | No information available |
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