SPIMEX and VK Tech introduce Tarantool technologies into exchange trading and clearing processes

2023: Creation of Electronic Bidding System and Clearing System

and St. Petersburg International Commodity Exchange VK Tech launched a project to create a new Electronic Bidding System and Clearing System for use in the SPIMEX derivatives market. This was announced on December 15, 2023 by representatives of SPIMEX. The solution is based ON on an intermediate layer for storage and processing. data Tarantool

The project is intended to translate to a qualitatively new level the characteristics of the software and technical complex of the exchange, used to carry out organized trading and clearing operations in the urgent market, as well as to create a long-term basis for the further development of SPIMEX services using domestic software. The execution of the work envisaged by the project will take about 18 months. The solution obtained as a result of the project can be adapted in the future for commodity markets.

The main criteria for SPIMEX when choosing a solution were the combination of product characteristics based on the Tarantool platform and the presence of a professional team of VK Tech specialists.

The solution will optimize the infrastructure of SPIMEX for working with data. Tarantool will ensure the reliability of information storage and fault tolerance of systems, including by scaling power when the load on the platform increases. Computing in RAM will also help increase the performance of the shopping and clearing complex - up to hundreds of thousands of transactions per second.

"Despite the fact that the Tarantool team had extensive experience in building high-load systems, participating in the creation of an exchange trading and clearing complex from scratch was a very interesting task for us. The design stage allowed us to delve deeper into the peculiarities of exchange and clearing activities and move on to the development stage with a clear understanding of what needs to be done. The customer's requirements for the created trading and clearing complex are the ability to process up to 100k transactions per second and provide the minimum possible values ​ ​ for the processing time of each application, subject to synchronous replication of the states of the components of the complex, "said Alexander Vinogradov, project manager at Tarantool company VK.

"The technical capabilities of products based on the Tarantool platform organically fit into our idea of ​ ​ what the future trading and clearing systems of SPIMEX should look like. It is especially important for us that the Exchange has a Russian technological partner with whom we can cooperate on a long-term basis, "said Pavel Kakhutin, head of the SPIMEX software development center.