Market adapters
Dedicated LP and ECN sessions normalise market data and order flow without hiding venue behaviour.
BrokerForge · electronic brokerage platform
BrokerForge.
One platform for pricing, routing, credit, and every conversation around a trade.
BrokerForge is the backend and operating surface for an electronic broker: market adapters, executable pricing and smart order routing, credit controls, broker and client GUIs, telemetry, high-availability architecture, and investigation tools.
Liquidity with semantics
Each LP or ECN is observed as its own source, including quote freshness, depth behaviour, and stream type.
Execution with accountability
Client intent, venue routing, fills, refusals, and recovery are visible as one continuous operating story.
Operations with proof
Component health, lifecycle state, FIX session telemetry, and decision-quality analytics stay close to the desk.
The BrokerForge backend
A clean chain from market adapter to client outcome.
BrokerForge separates concerns where they must be separated, then makes the operating context visible across the whole chain.
Pricing & smart order routing
Aggregate executable liquidity by size, apply pricing policy, select a route, and preserve the decision context.
Credit & order authority
Apply pre-trade credit, exposure, collar, margin, and kill-switch controls before an order can become an external side effect.
Broker & client surfaces
Give each user the correct live view: the broker sees the system; the client sees only entitled prices, orders, and outcomes.
Why BrokerForge
A brokerage should compete on its operating model—not on the number of screens it owns.
Legacy stacks divide the business into opaque silos: a price that cannot explain its liquidity, an order that cannot be traced through recovery, and a dashboard that knows a process is alive but not whether it is doing its job. BrokerForge was built to close those gaps.
The result is a platform designed for the questions that matter in a live brokerage: what can we really trade, for whom, with which counterparty, at what quality, and what proves it?
The difference is architectural
Designed for a desk that needs to know, not guess.
Executable, not merely indicative
Price construction respects venue stream semantics: top-of-book, sweepable depth, and full-amount tiers do not become one misleading ladder.
Failure is a first-class state
Stale prices are withdrawn, not painted healthy. A running process is not confused with a live venue session. Unknown stays visibly unknown.
One decision trail
From client request to venue outcome, the stack is built around durable state, idempotency, bounded diagnostics, and evidence that can be reviewed later.
Composable by design
Venue sessions, market-data components, client channels, analytics, and operations can start and restart independently, then converge safely.
The BrokerForge operating model
Six capabilities. One accountable trading operation.
The component matrix is deliberately expressed here as a broker’s operating model—not a list of technical services. Each capability has a clear authority boundary, a live operating view, and evidence that can be tested. The detailed matrix below shows the current delivery position behind every claim.
01Live demonstration
Liquidity foundation
Connect liquidity without losing its meaning.
Give every LP and ECN its own session boundary, then normalise the feed without pretending that very different depth models are the same thing.
- Dedicated market-data and order sessions
- FIX full-book and incremental reconciliation
- Top-of-book, sweepable and full-amount depth
02Live demonstration
Executable pricing
Quote what the client can actually trade.
Build an executable view for the requested size, price it by policy, select liquidity, and retain the conditions behind the decision.
- Size-aware consolidated liquidity
- Freshness and source-quality admission
- Markup, skew and synthetic-price support
03Live demonstration
Controlled execution
Protect authority before an order becomes a side effect.
Make credit and safety checks part of the route to market, so price collars, margin policy, exposure limits, and kill switches are not after-the-fact controls.
- Pre-trade size and price controls
- Credit, exposure and margin policy
- Risk-reducing flow and controlled liquidation
04Live demonstration
Client distribution
Give each client the market and workflow they are entitled to.
Serve browser, API, and FIX clients through one broker authority, with client-scoped prices, orders, outcomes, and no shortcut around the control path.
- Entitlement-aware market data
- Orders, amend, cancel and flatten workflow
- Client-scoped positions and post-trade views
05Live demonstration
Desk operations
Operate the business, not a collection of processes.
Give brokers one view across component topology, live prices, trades, venue quality, client sessions, and the health of the business as well as the machines.
- Broker-side market and execution views
- Client and counterparty scorecards
- Lifecycle, health and bounded diagnostics
06Live demonstration
Evidence & resilience
Explain a result, then recover deliberately.
Record and replay the market, inspect bounded evidence, measure execution quality, and restart independent components without turning recovery into a customer event.
- Historical common mids and sliceable markouts
- Recorder, deterministic replay and FIX Workbench
- Durable order facts and measured recovery drills
Real-venue certification and cross-host stateful HA remain explicit delivery gates. The matrix below separates demonstrated functionality from those production-release programmes.
Proven, not promised
Every claim on this page has a drill behind it.
BrokerForge is measured the way a desk would judge it: at the client, under load, with the failure injected on purpose. These figures come from repeatable drills on the simulator-backed stack, kept with the evidence that produced them.
- ~6 s
Full-stack failover, measured at the client
The owning client gateway is killed with four client populations trading. The standby is promoted and every client is logged on again in 5.9 s, in both directions, with no order left in doubt.
- 1.07 s
Client reconnect after a gateway failover
A focused failover drill on the client order path: zero committed records lost and zero duplicate venue side effects.
- 58 ms
Order-authority restart
A client-gateway restart during the straight-through-processing drill. A replace outstanding across the restart completes on its original terms, and three client amendments produce exactly three venue replaces.
- 0
Venue orders before a margin refusal
An order that would breach margin is refused before any external side effect. A constrained account can still reduce risk, and each refusal is written to the decision audit.
- Fail-closed
A lost source never becomes a stale mark
When a price source disappears, valuation withdraws its mark and liquidation halts rather than acting on old data, then releases automatically once a trusted source recovers.
- bps · USD · DPM
Markouts on any slice
By client, instrument, order type, counterparty, source, side and amount band—live, and recomputed from recorded market history.
Measured on the simulator-backed BrokerForge stack. Real-venue certification and two-machine production HA are delivery gates, shown as such in the matrix below.
What your clients and desk gain
Client confidence in front. Desk control behind.
Capabilities matter only when they improve the service a broker delivers: dependable prices and clear order progress for clients; better control, evidence, and faster answers for the desk. This matrix makes that link explicit—and shows what has been demonstrated.
| BrokerForge capability | Benefit to clients & desk | Proof on record | Delivery position |
|---|---|---|---|
| Market adapters | Independent LP/ECN market-data and order sessions, with top-of-book, sweepable-depth and full-amount streams kept distinct. | Scenario-tested native adapters; full-book and incremental FIX book reconciliation; per-venue freshness and stream-type telemetry. | Demonstrable now |
| Pricing & SOR | Size-aware executable prices and venue route selection, with the route context retained. | End-to-end acceptance requires fresh two-sided venue observations and executable client bands; stale or thin liquidity is withdrawn, not painted. | Demonstrable now |
| Order lifecycle (STP) | New, cancel, amend and status through one order authority—for FIX and browser clients alike. | Routed cancel/replace proven end to end through the real processes, including venue-refused replaces and replaces outstanding across a restart. | Demonstrable now |
| Credit, margin & safety | Pre-trade credit, collars, exposure, margin, kill switch and controlled liquidation. | Margin refusal before any venue side effect; risk-reducing flow still admitted; source-loss halt and threshold liquidation, each with an audited decision. | Demonstrable now |
| Broker GUI & operations | Topology, prices, blotter, fill and venue quality, markouts and client sessions in one operating view. | Lifecycle, domain health and business telemetry kept distinct; authenticated, redacted paging of wire audit and diagnostics. | Demonstrable now |
| Client GUI & API | Entitled prices, orders and post-trade outcomes through browser, API and FIX channels. | Browser orders reach the backend only through the order authority; a routed amend shows as pending until the venue agrees. | Demonstrable now |
| Recording, replay & analytics | Exact market-data recordings, deterministic replay, historical mids and markouts. | Verified compressed recordings served to index, export, history and replay; markouts in bps, USD and DPM by client, instrument, counterparty and amount band. | Demonstrable now |
| Restart & recovery | Components start and restart independently and converge; durable order state survives a restart. | Durable journals with idempotency and a documented operator recovery procedure; order-authority restart measured at 58 ms with no duplicate venue replace. | Demonstrable now |
| High availability | Active/active market data; fenced single-owner order and client state with measured promotion. | Full-stack failover drill: ~6 s at the client with no order in doubt. A production lease service and two-machine replication remain release gates. | Controlled hardening |
| Production venue rollout | A repeatable path from simulated proof to a certified counterparty connection. | Venue certification, security review, back-office/STP transport and production packaging are explicit gates—not assumptions. | Delivery programme |
| Extended scope | Internalisation, hedging, tenor and swaps, execution algorithms, transaction reporting. | Designed as conditional components and enabled by an explicit product decision for each deployment. | Scoped on request |
- Demonstrable nowBuilt and exercised end to end on the simulator-backed stack, with retained evidence.
- Controlled hardeningArchitecture and drills in place; production mechanisms are gated release work.
- Delivery programmePer-deployment work with a named venue, client channel or integration.
- Scoped on requestDesigned for the platform and enabled only by an explicit product decision.
A credible path to production
Start with a working brokerage—not a slideware architecture.
- 01
Prove the target workflow
Map instruments, sources, client entitlements, and the desk questions that define success. Run them through an observable, repeatable stack.
- 02
Connect the commercial edge
Introduce the chosen venue and client channels behind the same canonical model, with certification and measured operational acceptance.
- 03
Harden only what carries authority
Apply production security, durable-state continuity, external integration, and cross-host recovery proof where they matter—without turning the entire platform into a monolith.
BrokerForge is deliberately candid about scope: the demonstrator covers the end-to-end brokerage workflow; real-venue certification, production identity integration, and two-machine stateful HA are gated delivery work. That discipline is part of the product.
A platform worth operating
Stop integrating a brokerage. Start improving one.
Bring us a venue, a client workflow, and the operating questions your desk cannot answer today. We will show the route from price to outcome—and the evidence behind it.