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Stock Trading & Brokerage Platforms

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Open Exchange is the open-source core of a trading venue: a matching engine and a double-entry money ledger that you run on your own servers. It is not a hosted exchange, and it is not crypto-specific. Both engines are written in Java on Aeron Cluster and replicated by Raft consensus, so an order is real only once a majority of nodes has written it down. The whole stack is Apache 2.0 across five repositories, matching engine, assets engine, order management, admin console and trading UI, which means a venue can read every line of code that holds its customers' money. Performance figures are published as committed round trips measured after consensus, not as ingress numbers. Commercially, we operate that stack for the venue, priced against what running it yourself would cost rather than per seat. It fits teams building an exchange or a brokerage that need deterministic matching, exact balances and survivable operations without buying a black box or hiring a platform team.

Open Exchange can be found in Stock Trading & Brokerage Platforms, Core Banking Software categories.

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Open Exchange Main Features

• Asset agnostic
  Nothing in the engines is crypto-specific. The same core serves a crypto venue, a brokerage, or any market with an order book and balances to keep exact.
• Open-source core
  Matching engine, money ledger, order management, admin console and trading UI, all Apache 2.0. You can read and change every line.
• Operations come with it
  Admin console, snapshots and journal retention, market data persistence, deployment tooling and a public live demo. The parts that keep a venue alive are in the open repositories too.
• Runs on your own servers
  Self-hosted on your own hardware or cloud account. No hosted dependency, no per-seat licence, and no vendor sitting between you and your customers' money.
• Double-entry money ledger
  Balances, holds and settlement run in their own replicated cluster. The money is committed before the order may exist, so an order can never outrun the balance behind it.
• Optional managed operation
  If you would rather not run it yourself, we operate the stack for you. Priced against server cost and upkeep rather than a subscription per user.
• Deterministic order matching
  Price-time priority on an array-backed book. The same input log always produces the same result, so any run can be replayed and audited.
• Numbers measured after consensus
  Published latency and throughput are committed round trips, measured after replication and application, not the rate at which a client can push into a buffer.
• Survives a server dying mid-trade
  Three nodes and Raft consensus: an order is real once a majority has written it down. The leader is killed on every single commit in CI, and the code cannot merge unless it fails over cleanly.

Open Exchange Benefits

• No platform team to hire
  Keeping a venue alive around the clock normally means a standing engineering team. The same open stack can be operated for you instead.
• Cost tracks servers, not seats
  The software itself is free. What you pay follows the machines and the upkeep, so more users do not multiply a licence fee.
• No black box in the money path
  Every line that holds customer balances is readable, so a failure is something you can diagnose instead of escalate to a vendor.
• Correctness is gated, not promised
  Determinism suites, money conservation checks and a leader-kill drill run before code can merge. A build that cannot fail over does not ship.

Who should use Open Exchange?

• Fintech product teams
  Companies adding trading to an existing product who do not want to build an order book and a ledger from scratch.
• Risk, finance and compliance
  People who must reconcile balances and explain what happened, from an auditable log rather than a vendor's word.
• Exchange and brokerage founders
  Teams standing up a new venue who need matching and money to be correct from the first day of trading.
• Platform and infrastructure engineers
  The people who will actually run the cluster: deterministic replay, snapshots, failover drills and source they can read at three in the morning.

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