System, method, and fpga circuit for processing electronic messages in a distributed computer system

A method for handling electronic data messages in a distributed computer system, the method comprising:

• storing in memory, by a matcher server, an order book that stores pending orders;
• receiving by the matcher server a first order electronic message for a first instrument;
• in response to reception of the first order electronic message, the matcher server performing a matching process based on the first order electronic message;
• receiving by a gateway the first order electronic message and route the first order electronic message directly to the matcher server for the matching process;
• receiving by the gateway a first mass quote electronic message from a remote client computer system that is associated with a first client, the first mass quote electronic message including a plurality of individual quote electronic messages that are bundled into the first mass quote electronic message, each one of the plurality of individual quote electronic messages including a price value for one of a plurality of different instrument identifiers included with a respective one of the plurality of individual quote electronic messages;
• routing by the gateway the mass quote electronic message to a field programmable gate array (FPGA) circuit without first involving the matcher server;
• receiving by the FPGA the mass quote electronic message routed from the gateway;
• parsing by the FPGA each one of the plurality of individual quote electronic messages of the mass quote electronic message and store data for each one of the plurality of individual quote electronic messages to a data structure located in the memory of the FPGA, where the data stored for each one of the plurality of individual quote electronic messages is organized in the data structure according to both the instrument identifier of a corresponding electronic message and a first client identifier that corresponds to the first client that sent the first mass quote electronic message;
• receiving by the FPGA away market feed electronic messages from remotely located exchange computer systems, where each of the away market feed electronic messages includes a price value and a corresponding instrument identifier and each of the away market feed electronic messages are received by the FPGA without first being routed through the matcher server or the gateway;
• updating by the FPGA the data structure based on reception of the away market feed electronic messages;
• and
• delivering by the FPGA, in response to a query sent as part of the matching process performed on the matcher server for the first instrument, information stored in the data structure regarding the first instrument, the delivered information including data based on away market feed electronic messages for the first instrument and data based on individual quote electronic messages for the first instrument that were part of at least one received mass quote electronic message.

A field programmable gate array (FPGA) circuit for handling electronic data messages for use in a system that includes (i) a matcher server having an order book that stores pending orders and configured to receive a first order electronic message for a first instrument, and in response to reception of the first order electronic message, perform a matching process based on the first order electronic message and (ii) a gateway configured to receive the first order electronic message and route the first order electronic message directly to the matcher server for the matching process, receive a first mass quote electronic message from a remote client computer system that is associated with a first client, the first mass quote electronic message including a plurality of individual quote electronic messages that are bundled into the first mass quote electronic message, each one of the plurality of individual quote electronic messages including a price value for one of a plurality of different instrument identifiers included with a respective one of the plurality of individual quote electronic messages, and route the mass quote electronic message to a field programmable gate array (FPGA) circuit without first involving the matcher server, the FPGA circuit comprising:

• reconfigurable firmware logic circuitry and memory, the reconfigurable firmware logic circuitry configured to:
• receive the mass quote electronic message routed from the gateway,
• parse each one of the plurality of individual quote electronic messages of the mass quote electronic message and store data for each one of the plurality of individual quote electronic messages to a data structure located in the memory of the FPGA circuit, where the data stored for each one of the plurality of individual quote electronic messages is organized in the data structure according to both the instrument identifier of a corresponding electronic message and a first client identifier that corresponds to the first client that sent the first mass quote electronic message,
• receive away market feed electronic messages from remotely located exchange computer systems, where each of the away market feed electronic messages includes a price value and a corresponding instrument identifier and each of the away market feed electronic messages are received by the FPGA circuit without first being routed through the matcher server or the gateway,
• update the data structure based on reception of the away market feed electronic messages, and
• deliver, in response to a query sent as part of the matching process performed on the matcher server for the first instrument, information stored in the data structure regarding the first instrument, the delivered information including data based on away market feed electronic messages for the first instrument and data based on individual quote electronic messages for the first instrument that were part of at least one received mass quote electronic message.