Systems and methods for routing trade orders based on exchange latency

A method comprising:

• measuring by a computer device a first latency associated with a first electronic exchange based on a first processing time of a first trade order, wherein the first processing time is based on a time when the first trade order has been fulfilled by the first exchange, wherein a processing speed of trade orders at the first electronic exchange changes during a trading session;
• determining by the computer device that the first trade order is a first type of trade order;
• determining by the computer device a collective latency score for the first type of trade order at the first exchange using the first latency;
• receiving by the computer device a second trade order from a trading device;
• determining by the computer device that the collective latency score reaches a predetermined latency threshold defined for the first exchange;
• and
• routing by the computer device the second trade order from the trading device to a second exchange based on the first latency associated with the first exchange and in response to identifying the second trade order as being of the first type of trade order.