Introduction to ADE Technology

ADE is a venue built from the ground up by institutional HFT derivatives market practitioners; the business management is comprised of Finance Industry professionals. As such, the entire stack is designed to handle high order throughput with highly efficient risk systems. The Exchange is backed by a blockchain-based, proprietary financial clearing and settlement piece Clear Chain.

Order Matching — CROM

• High-performance order matching — in excess 500k trades per second (inc. DB commits),
• In-built Application Monitoring for real-time Network and Application supervision
• Self-Match Prevention (Cancel Resting, Cancel Aggressing, or Cancel Both)
• Dynamic Reasonability Limits
• Native Margin Efficiencies for Exposure and Position (Inter and Intra contract)
• Capable of handling Calendar Spreads, Strategies, Options

Risk Systems

Multiple high-performance real-time risk systems

• Initial Margin Requirement (IMR) a fully dynamic component based on the volatility of the underlying asset,
• Variation Margin (VM): Real-time mark-to-market Risk Component,
• Staggered delivery (Deleverage procedure): Delivery period distributed over X number of days,

Market Data APIs

4 real-time APIs:

• Binary; lowest latency designed for collocation and algo market makers
• FIX 4.2; industry standard to allow for easy integration and strategy portability
• JSON; the most feature-rich of the bunch utilized by the browser-based GUI
• Mini-FIX; a stripped-out version of FIX for lower latency than traditional FIX

Mass Quote Functionality is available on all low latency APIs

Clear Chain

ADE Ecosystem

Unique blockchain-based clearing solution, Clear Chain. Currently deployed on Ethereum but blockchain agnostic by nature. Capable of:

• Runtime Asset tokenization: tokenize ANY asset.
• Atomic Settlement: real-time settlement is possible
• Cross Exchange Risk Netting: margin improvement long/short netting
• Multiple Custody Options: Several third-party custody options at launch
• Clearing of ALL products.

Mimics ALL existing CCP procedures including “waterfall” default management.

MISC.

• Built with regulatory compliance in mind (MIFID II compliant)
• Compatible with all existing systems — Easy integration via APIs
• Built for 24/7 operability with seamless component failover
• Real-Time portfolio compression for improved margin efficiencies.

Interface

• High flexibility and customization capabilities of all interfaces
• Client Self Administration through a multi-level hierarchy structure
• Access control through fully dynamic permissioned, action-based privileges

Full audit history on all interfaces.