New report outlines a modern alternative to "Exchange-in-a-Box" platforms and legacy market technology
NEW YORK, Jan. 15, 2026 /PRNewswire-PRWeb/ -- Fundamental Interactions, a provider of high-performance electronic trading systems for regulated markets, today announced the release of a new white paper titled "Matching Engine Technology: Architecture, Determinism, and Comparison to Global Exchange Platforms." The paper explains how deterministic system design enables modern exchanges and Alternative Trading Systems (ATSs) to achieve predictable execution, regulatory auditability, and long-term strategic independence.
As trading venues expand to support equities, private securities, and digital assets, many operators face difficult trade-offs between performance, compliance, and control. The white paper addresses these challenges by presenting a deterministic matching engine architecture modeled on the same design principles used by leading global exchanges, while remaining independent of exchange-operated outsourcing models.
"Market operators are under increasing pressure to launch quickly, but many turnkey solutions introduce hidden long-term risks around control, auditability, and strategic independence," said Kun Luo, Chief Technology Officer of Fundamental Interactions. "This white paper demonstrates that venues can achieve exchange-grade performance without compromising deterministic behavior or regulatory confidence. A deterministic architecture provides a durable foundation for modern regulated markets."
The white paper highlights several key themes:
- Deterministic Execution and Audit Replay
- Strict global event sequencing ensures identical outcomes from identical inputs, enabling exact replay for regulatory audits and investigations.
- Unified Multi-Asset Trading
- A single execution framework supports traditional securities, private markets, and digital or tokenized assets, reducing fragmentation and operational complexity.
- Strategic Independence
- Fundamental Interactions operates solely as a technology provider, allowing venues to retain full ownership of their execution logic, market data, and intellectual property.
The paper also examines the risks of exchange-operated "Exchange-in-a-Box" solutions and discusses how ATS operators can balance the build-versus-buy decision while preserving long-term enterprise value.
Availability
The full white paper is available for download at www.finteractions.com
About Fundamental Interactions
Fundamental Interactions is a provider of high-performance, deterministic matching engines and electronic trading systems for regulated markets, ATS operators, broker-dealers, and digital asset marketplaces. The company's technology emphasizes audit integrity, predictable execution, and architectural simplicity, enabling market operators to scale while maintaining full strategic independence.
Media Contact
Sales & Marketing
Fundamental Interactions Inc.
[email protected]
(212) 845-9077
www.finteractions.com
Media Contact
Shawn Sloves, [email protected], 1 929-999-2733, [email protected], www.finteractions.com
SOURCE Fundamental Interactions
Share this article