Sequencer

The sequencer orders and disseminates transactions at line-rate from traders. Transactions are sequenced in first-in-first-out ordering (FIFO). The zero-knowledge rollup verifies all transactions are executed on the exchange in the order provided by the sequencer, according to the deterministic rules of the exchange.

Order entry and market data dissemination take place over equalized private fiber in TheHUB which provides every trader with equal latency and access to the exchange.

Traders can subscribe to the real-time, sequenced transaction feed over multicast. The sequenced transaction feed provides all the information required to verify the state of the exchange.