System and method for controlled market data delivery in an electronic trading environment

A non-transitory computer readable medium having stored therein instructions executable by a processor, including instructions executable to:

• receive by a network device a plurality of market updates from an electronic exchange;
• place by the network device the plurality of market updates in a queue;
• determine by the network device a first update type for a first market update of the plurality market updates in the queue based on at least one of a price update and a quantity update in the first market update;
• set by the network device a first number of market updates to be processed in the queue before any market information from the plurality of market updates is sent from the network device to a client device based on the determined first update type;
• set by the network device a data-flush counter value based on the first number of market updates to be processed to schedule a data flush and a loop counter;
• process by the network device market updates from the queue, wherein the processing includes:
• coalesce by the network device each of the market updates from the queue to generate a coalesced market update, wherein the coalescing includes overwriting at least a first value corresponding to a price or a quantity in an earlier market update with a second value corresponding to the price or the quantity in a subsequent market update;
• and
• increment by the network device the loop counter;
• detect by the network device that the data-flush counter value has been reached based on the loop counter;
• and
• send by the network device, in response to detecting that the data-flush counter value has been reached, the coalesced market update the client device.