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NSE Market System

The NSE Market System is an exchange management system developed by members of the UMSR Minecraft Server. It's used among server members to trade in in-game financial markets dealing in equities, derivatives and commodities.

What's the UMSR?

The UMSR is a private Minecraft Server founded in 2019 with the goal of developing an efficient in-game economic and political system which facilitates growth and allows people to have more fun by avoiding bording tasks. The server implements a free market economy with its own currency, central bank, government, private corporations and financial markets.

Why NSE Market System?

Since 2020, people on the server have been using a proprietary market management system to trade in in-game financial instruments using exclusively in-game money. However, the system needed to be repalced due to software shortcomings and had to be rewritten from the ground up. In-game financial markets enhance liquidity and reduce overall volatility in the economy, allowing for more rapid growth and more efficient allocation of resources.

Features of NSE Market System

  • Market data visualization in tables and charts
  • Limit and Market Orders
  • Order cancelation
  • Real-Time order matching
  • Session management and settlement
  • Asset-short and Cash-short positions
  • Easy transfer of assets between accounts
  • Digital payments with in-game currency
  • Periodic E-Mail messages to users with up-to-date market information
  • JSON API over TCP (Using UNet and MCom)
  • Up to 8100 orders per ticker per second (0.12 ms/order)

Performance considerations

Performance may varry wildly between "maker" orders and "taker" orders. Maker orders provide liquidity to the marketplace, whereas taker orders take away liquidity. Practically, maker orders are limit orders with price and/or size that make them umnatchable in the moment they're issued, while taker orders are limit or market orders with size and price that allow them to be matched instantly. To the user, the process of placing an order is the same regardless of it being "maker" or "taker", but the NSE Market System handles them very differently. Maker orders are just checked for price and size, and added to the order book, while taker orders are matched, checked for how much liquidity they take, and partialy cleared. In some cases, taker orders may require the entire market depth map to be recalculated. Another factor that can have an effect on performance are "lazy" orders. "Lazy" orders are orders issued with the "lazy" command, which means the client does not need to wait for confirmation before issuing other orders. They're meant for HFTs and program traders, and they take the same time to be processed, but due to their non-blocking behaviour, the rate is mostly determined by connection speed and the speed of the client code.

The takeaway

For these reasons, you can expect taker orders to be much slower than maker orders. Expect somewhere between 50k to 200k lazy maker orders per ticker per second, 4k to 8k syncronous maker orders per ticker per second, and 0.5k to 4k taker orders per ticker per second.

Disclaimer

This software is meant to be used exclusively with "play money" and may not be compatible with world regulations such as those of the SEC (Securities Exchange Commission) or other regulatory institutions and frameworks. Given its private nature and the short development time, it also lacks many security features which may make it incompatible with privacy and data security regulations such as the GDPR. The NSE Market System is designed to work on the UMSR Minecraft Server with in-game money and assets, in complience with in-game regulations and rules around financial markets and under the watchful eye of in-game regulatory institutions. Use it at your own risk, neither the author of the software, nor the UMSR Minecraft Server and its members take any responsibility. As per the LICENSE agreement detailed in the LICENSE file, the software is not guaranteed for fitness either.