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• Customer - The organisation utilizing MarketFactory's systems.
• Client - The software component(s) maintained by the Customer that are used to communicate with Venues via Whisperer
• User - A logical entity defined by the Customer and configured by MarketFactory, used to associate a Client Session with a Venue Connection.
• Venue - External trading system - may be a Maker (e.g. a Bank), a Taker (e.g. an ECN), or a CLOB.
• Logon Service - Whisperer's security and session administration component.
• Feed HandlerGateway - The Whisperer component responsible for maintaining connectivity with a Venue.
• Venue Connection  - A connection established between the Feed Handler Gateway and the Venue and Whisperer. Typically this will be a single FIX session (i.e. a specific Target/SenderCompID pair), but in some cases this may incorporate additional physical connections - for example,  a a Pricing session for a CLOB may comprise A/B UDP market data feeds in addition to a standard TCP FIX session used for message recovery.
• Client Session  - A connection maintained between  between the Feed Handler Gateway and a Client User, dedicated to delivering messages between the between the User and the Venue for a specific Session Type.

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For a given Client and given Whisperer Feed Handler Gateway deployment, each session type will be assigned unique Venue connection credentials (typically target IP:Port details and associated Target/SenderCompIDs, but potentially additional details such as Username and Password, PKI certs, etc).

Session Architecture

24x5.5 Availability

All session types are maintained directly with an individual Whisperer Feed Handler. All Feed Handlers Gateway. All Gateways are available 24 x 5.5 - the full trading week commencing on Sunday prior to Asia-open and ending on Friday, NY-close, irrespective of the schedule of the Venue itself.

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