Building a financial trading platform requires selecting the right matching engine for customization rather than modifying existing complete trading systems. Here are seven open-source matching engines developed in various programming languages to suit different project needs.
1. Liquibook
- Language: C++
- Source Code: GitHub
Liquibook, developed by OCI, is a header-only C++ library offering exceptional performance:
- Supports market/limit/stop orders
- Provides multi-level market depth aggregation
- Event-driven architecture for real-time notifications
- Minimal integration effort (header-only)
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2. Exchange-Core
- Language: Java
- Source Code: GitHub
This ultra-fast engine leverages LMAX Disruptor and Eclipse Collections, achieving 5M order book operations/second on older hardware:
| Operations | Latency (µs) |
|---|---|
| 125K | 0.6 |
| 5M | 1.5 |
Key Features:
- High-frequency trading optimization
- Memory-resident workflow
- Multi-core CPU support
- Object pooling to reduce GC pressure
3. CppTrader
- Language: C++
- Source Code: GitHub
Component suite including:
- Matching engine
- Order book processor
- NASDAQ ITCH handler
Cross-platform support with extensive documentation.
4. GO-Matching-Engine
- Language: Go
- Source Code: GitHub
Ideal for Go developers studying matching engine internals through clean, idiomatic code.
5. ViaBTC Exchange Server
- Language: C
- Source Code: GitHub
Complete exchange backend system requiring:
- MySQL/Redis/Kafka
- Market data services
- API gateways
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6. LightMatchingEngine
- Language: Python
- Source Code: GitHub
Educational tool for Python developers featuring:
- Basic order matching logic
- Python 2.x/3.x compatibility
7. Orderbook-rs
- Language: Rust
- Source Code: GitHub
Supports:
- Market/limit orders
- Partial fills
- Order cancellation
FAQ
Q1: Which engine is best for high-frequency trading?
A: Liquibook (C++) and exchange-core (Java) offer the lowest latency for HFT scenarios.
Q2: Are these engines suitable for production use?
A: ViaBTC provides a production-ready system, while others may require significant customization.
Q3: How do Python/Rust engines compare performance-wise?
A: They're primarily educational - C++/Java options outperform them in throughput tests.
Q4: What infrastructure dependencies exist?
A: ViaBTC requires the most (databases/message queues), while header-only libraries like Liquibook need minimal setup.
Q5: Can these handle cryptocurrency trading specifically?
A: All can be adapted for crypto, though ViaBTC includes native crypto exchange features.
Q6: Where can I learn blockchain development?
A: Many platforms offer specialized courses in blockchain and smart contract programming.