System Design · Jane Street · Hard
Define the application-level message schema and session state flow between a firm’s OMS/EMS and an external exchange over an unreliable network. The OMS/EMS originates order requests; the venue can respond with acknowledgements, rejections, cancellation outcomes, and execution reports. Messages may be lost, delayed, duplicated, or delivered out of order, and the connection can drop at any time. Your design must cover: Message types — the required outbound messages (OMS/EMS →…
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