Last Price Exchange

Trigger: The Watchlist

The intraday price data exchange is triggered via the watchlist. When a watchlist is updated, the system checks for each instrument whether it is configured for GT-Net reception:

• Only instruments with the GT-Net Last Price Receive option enabled are considered for exchange.
• Instruments without this option are updated exclusively via the configured connector.

Instrument Identification

Instruments are uniquely identified by:

• Securities: ISIN + currency code
• Currency pairs: Base currency + quote currency

Price Exchange Workflow

The exchange follows a multi-step process where different data sources are queried sequentially:

flowchart TD
    A[Watchlist Update] --> B{GT-Net enabled?}
    B -->|No| K[Use connectors only]
    B -->|Yes| C[Filter instruments by GT-Net receive]
    C --> D{Own server Push-Open?}
    D -->|Yes| E[Query own price pool]
    E --> F{All prices found?}
    F -->|Yes| L[Done]
    F -->|No| G[Query Push-Open servers]
    D -->|No| G
    G --> H[Query Open servers]
    H --> I[Connectors for remaining instruments]
    I --> J{Own server Push-Open?}
    J -->|Yes| M[Update own price pool]
    J -->|No| L
    M --> L

Detailed Workflow

Step 1: Filter by GT-Net Configuration

The system separates watchlist instruments into two groups:

• GT-Net-enabled instruments: Instruments with the “GT-Net Last Price Receive” option enabled
• Connector-only instruments: All other instruments

Step 2: Query Own Price Pool (Push-Open Servers Only)

If the own server is configured as Push-Open, the local price pool is queried first. This enables fast responses without network communication if prices are already available in the pool.

Step 3: Query Push-Open Servers

For instruments not yet filled, all configured push-open servers are queried:

• Servers are sorted by priority.
• Servers with the same priority are randomly selected (load balancing).
• Each request contains:
  • List of instruments (ISIN/currency or currency pair)
  • Timestamp of the last known price for each instrument
• The response contains only prices that are newer than those specified in the request.

sequenceDiagram
    autonumber
    participant L as Local Server
    participant P1 as Push-Open #1 (Prio 1)
    participant P2 as Push-Open #2 (Prio 2)

    L->>P1: Instruments + timestamps
    P1-->>L: Newer prices
    Note over L: Update local instruments
    L->>P2: Remaining instruments + timestamps
    P2-->>L: Newer prices
    Note over L: Update local instruments

Step 4: Query Open Servers

For instruments that still don’t have a current price, open servers are queried. The flow is similar to push-open servers, however:

• Open servers read from their local instruments (no separate pool).
• The exchange can be asymmetric (depending on the “Exchange Price Data Securities” configuration).

Step 5: Connectors for Remaining Instruments

Instruments that received prices neither from the own pool nor from remote servers are updated via their configured connectors (data sources like Yahoo, Finnhub, etc.).

Step 6: Update Own Price Pool (Push-Open Servers Only)

If the own server is configured as push-open, prices obtained via connectors are stored in the local price pool. This makes these prices available for future requests from other instances.

Differences Between Server Types

Priorities and Load Balancing

The order of server queries is determined by priority (consumerUsage):

• Lower priority values are queried first.
• Servers with the same priority are randomly selected to distribute load evenly.
• The query stops as soon as all instruments have a current price.