Platform Capabilities

Exchange Solutions

Built for regulated markets and controlled trading venues. ZagTrader supports the complete lifecycle of a regulated market — from order entry and price discovery, through matching and auctions, to post-trade processing, surveillance, and regulatory reporting.

Book a Demo Markets & Regulatory Coverage

Who it's for

Exchanges & market operators
Regulated trading venues & MTFs
Digital-asset & tokenized exchanges
Market infrastructure operators

What it delivers

Deterministic, transparent price formation
Exchange-grade controls and supervisory oversight
Full auditability across all market activity
Regulatory access, review, and forensic analysis

A High-Performance Matching Engine at the Core

At the heart of the platform is a high-performance matching engine, supported by the market controls, data dissemination, participant management, and governance infrastructure that modern exchanges and market operators require.

Price–time priority matching, configurable sessions and auctions, venue-level controls, real-time surveillance, and post-trade integration — deterministic and fully auditable.

Core Exchange Capabilities

Everything a regulated market needs, from order entry to regulatory reporting

Matching Engine (Core)

Centralized order matching engine
Price–time priority matching
Partial fills and trade aggregation
Full order and trade lifecycle auditability
Optimized for continuous trading and auction-based sessions

Trading Sessions & Market Structure

Pre-open, open, continuous, closing, and post-close sessions
Opening, intraday, and closing auctions
Standalone auction sessions for structured liquidity events
Indicative pricing during auction and pre-open phases
Session rules configurable per market, segment, and instrument
Market halt, resume, and instrument suspension controls

Order Management & Market Controls

Centralized order intake and validation
Tick size, lot size, and trading hours enforcement
Price bands, volatility interruptions, and circuit breakers
Self-trade prevention at venue level
Exchange-wide and participant-level risk controls

Exchange Order Types

Market, Limit, Stop, and Stop-Limit
IOC, GTC, and GTD time-in-force
Auction orders
All order behavior governed by configurable market rules

Market Data & Price Dissemination

Market-by-order and market-by-price feeds
Configurable depth of book
Real-time trade dissemination
Official reference prices and auction results
Multicast, FIX, and WebSocket distribution
Snapshot and recovery support

Participant & Member Management

Trading participant onboarding and configuration
Permissions by market, segment, and instrument
Participant-level limits and controls
Sponsored access and DMA governance
Drop-copy feeds and audit visibility

Surveillance, Integrity & Governance

Real-time monitoring across instruments, sessions, and segments
Order-book surveillance — depth, imbalance, and behavioral analysis
Auction and pre-open price-formation monitoring
Detection of spoofing, layering, and manipulation
Full order and trade replay for supervisory review
Configurable alerts, exception workflows, and audit trails

Clearing & Post-Trade Integration

Trade confirmation generation
Interfaces for clearing and settlement systems
Netting and allocation workflows
Corporate-action integration points
Compatibility with CCPs, CSDs, and custodians

Connectivity & Interoperability

Native FIX protocol connectivity
Trading and market-data APIs
SWIFT messaging for post-trade and settlement
Replay and recovery support
Integration with surveillance, reporting, and regulatory systems

Market Expansion

Support for alternative and tokenized instruments
Governed within exchange market segments and rulebooks

Regulatory Confidence

Deterministic execution supporting transparent price formation, exchange-grade controls and supervisory oversight, full auditability across all market activity, and infrastructure designed to support regulatory access, review, and forensic analysis.