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Jasper: Scalable and Fair Multicast for Financial Exchanges in the Cloud

Core Concepts
Financial exchanges migrating to the cloud face challenges in achieving fair multicast. Jasper offers a solution with optimized latency, scalability, and fairness, outperforming existing systems.
Financial exchanges are exploring cloud migration for benefits like scalability and cost savings. However, ensuring fair multicast delivery poses challenges due to latency issues. Jasper introduces innovative solutions to address these challenges by optimizing latency, scalability, and fairness in cloud-based financial exchange multicast services. Financial exchanges rely on market data for trading decisions, requiring simultaneous data delivery to all participants. Jasper's overlay multicast tree minimizes latency variations through hedging and clock synchronization while scaling efficiently. Key features of Jasper include optimized DPDK/eBPF implementation, scalable message hold-and-release mechanism for fairness, and parallelizing multiple multicast trees for high throughput. Jasper's VM hedging strategy reduces latency variance and ensures fair data delivery among market participants. The system achieves low spatial latency variance across receivers while maintaining high throughput in cloud-hosted financial exchanges.
Jasper outperforms CloudEx with a delivery window size of 0 at high percentiles. Median OML for Jasper is 129ยตs compared to 228ยตs for AWS TG and 254ยตs for Direct Unicast. Hedging with ๐ป = 1 significantly reduces latency variance compared to no hedging. Delivery window size is reduced from โˆผ350 ยตs to โˆผ150 ยตs with ๐ป = 1 in Jasper. Holding duration required for fair delivery is minimized by Jasper's VM hedging strategy.
"Jasper introduces a solution that creates an overlay multicast tree within a cloud region that minimizes latency and latency variations through hedging." - Muhammad Haseeb et al. "VM hedging reduces the impact of latency fluctuations, yields much smaller latency variance, and narrows down the delivery window of a multicast message." - Ulysses Butler et al.

Key Insights Distilled From

by Muhammad Has... at 03-12-2024

Deeper Inquiries

How does Jasper's approach to fair multicast compare with traditional on-premises solutions?

Jasper's approach to fair multicast in financial exchanges is innovative and addresses the challenges faced when migrating financial exchanges to the public cloud. Traditional on-premises solutions for fair multicast often rely on switch support for multicast, carefully engineered networks, and physical wire length measurements to achieve simultaneous data delivery to all market participants (MPs). In contrast, Jasper leverages overlay multicast trees within a cloud region, minimizes latency variations through hedging techniques, uses clock synchronization algorithms for simultaneous delivery, and optimizes message processing using DPDK/eBPF implementations. One key difference is that traditional on-premises solutions may have more control over network infrastructure and hardware components like switches, enabling them to implement efficient multicast services. On the other hand, Jasper operates in a public cloud environment where such hardware support may not be available. Therefore, Jasper introduces novel techniques like VM hedging and optimized tree structures tailored for scalability and fairness in the cloud. Overall, while traditional on-premises solutions may have more established methods for achieving fair multicast based on physical infrastructure optimizations, Jasper's approach demonstrates adaptability to the limitations of the public cloud while still meeting stringent requirements for low-latency data delivery in financial exchanges.

How might advancements in clock synchronization technology impact other industries beyond financial exchanges?

Advancements in clock synchronization technology can have far-reaching implications across various industries beyond financial exchanges: Telecommunications: Improved clock synchronization can enhance network performance by reducing packet delays and optimizing data transmission. This can lead to better quality of service for voice calls over IP networks or real-time video conferencing applications. Transportation: In sectors like aviation or autonomous vehicles where precise timing is critical for coordination and safety protocols, advanced clock synchronization technologies can ensure accurate time-stamping of events leading to improved operational efficiency. Healthcare: Applications requiring synchronized medical devices or telemedicine platforms could benefit from enhanced clock synchronization capabilities. It could enable real-time monitoring systems with accurate timestamps aiding in diagnosis and treatment procedures. Manufacturing: Industries relying on distributed manufacturing processes or IoT devices could leverage synchronized clocks for seamless coordination between machines leading to increased productivity and reduced downtime. Energy Sector: Power grid management systems heavily depend on precise timing mechanisms for grid stability and energy distribution optimization. Advanced clock synchronization technologies could improve grid reliability by ensuring coordinated operations among different power sources. In essence, advancements in clock synchronization technology offer opportunities across diverse sectors by enhancing operational efficiency, improving system reliability, and enabling new applications that require precise timing coordination.