Transmission latency leveling apparatuses, method and systems

A computer-implemented method in an electronic trading environment, the method comprising:

• providing, at a first market center, an electronic trading system comprising:
• (a) a matching engine configured to receive and execute trading orders, (b) a storage medium configured to record an order book, and (c) at least one communication interface configured to communicate electronic data with trade participants, the electronic data including incoming trading orders from the trade participants and outgoing market data updates to the trade participants;
• configuring at least one of the matching engine and the at least one communication interface to selectively process the electronic data by performing at least one of:
• (1) imposing a first additional latency on the electronic data of the incoming trading orders to the matching engine, such that, prior to the matching engine receiving or executing an electronic trading order, the first market center has sufficient time to process a market data update which has been generated at a second market center prior to the first market center's receipt of said electronic trading order, and
• (2) imposing a second additional latency on dissemination of the electronic data of the outgoing market data updates.

An electronic trading system of a first market center, the system comprising:

• a matching engine configured to receive and execute trading orders;
• a storage medium configured to record an order book;
• and
• at least one communication interface configured to communicate electronic data with trade participants, the electronic data including incoming trading orders from the trade participants and outgoing market data updates to the trade participants;
• wherein at least one of the matching engine and the at least one communication interface is configured to selectively process the electronic data by performing at least one of:
• (1) imposing a first additional latency on the electronic data of the incoming trading orders to the matching engine, such that, prior to the matching engine receiving or executing an electronic trading order, the first market center has sufficient time to process a market data update which has been generated at a second market center prior to the first market center's receipt of said electronic trading order, and
• (2) imposing a second additional latency on dissemination of the electronic data of the outgoing market data updates.