Exchange feed for trade reporting having reduced redundancy

A method including:

• determining, by a processor a change in a state of a database as a result of plurality of requests received from one or more sources;
• generating, by the processor, a message including a notification portion and a request data portion, wherein the notification portion includes notification data conveying the change in the state of the database without identifying all of the plurality of requests and the request data portion includes request data identifying at least one of the plurality of requests, and wherein the request data included in the request data portion is not included in the notification portion;
• transmitting the notification portion of the message to a plurality of recipients prior to transmitting the request data portion, wherein receipt of only the notification portion by any of the plurality of recipients informs the recipient of the change in the state of the database;
• and
• transmitting, after transmitting the notification portion, the request data portion to the plurality of recipients as a plurality of packets, the plurality of packets including:
• an encrypted packet including at least a part of the request data portion;
• and
• a last packet including a decryption key to decrypt the encrypted packet, wherein transmission of the last packet is timed to shorten a period of time between individual updates to each of the plurality of recipients by delaying access to the request data portion for some of the plurality of recipients.

A system including:

• means for determining a change in a state of a database as a result of plurality of requests received from one or more sources;
• means for generating a message including a notification portion and a request data portion, wherein the notification portion includes notification data conveying the change in the state of the database without identifying all of the plurality of requests and the request data portion includes request data identifying at least one of the plurality of requests, and wherein the request data included in the request data portion is not included in the notification portion;
• means for transmitting the notification portion of the message to a plurality of recipients prior to transmission of the request data portion, wherein receipt of only the notification portion by any of the plurality of recipients informs the recipient of the change in the state of the database;
• and
• means for transmitting, after transmitting the notification portion, the request data portion to the plurality of recipients as a plurality of packets, the plurality of packets including:
• an encrypted packet including at least a part of the request data portion;
• and
• a last packet including a decryption key to decrypt the encrypted packet, wherein transmission of the last packet is timed to shorten a period of time between individual updates to each of the plurality of recipients by delaying access to the request data portion for some of the plurality of recipients.