Centralised Exchange (Spot & Perpetual Futures)

A high-throughput, in-memory matching engine and centralized exchange platform built in TypeScript. Designed to handle both Spot and Perpetual Futures markets with low-latency execution, strict risk management, and zero-fault state mutations under load.

Architecture Overview

The system is decoupled into isolated services to ensure the core matching loop is never blocked by network or I/O operations.

• Matching Engine (/engine): The core in-memory state machine. It consumes trade events from an incoming Redis queue, manages the L2 orderbook, and executes risk calculations (isolated margin, real-time PnL, state updates) entirely in RAM for microsecond execution speeds.
• API Backend (/backend): The public-facing gateway. Handles user authentication, request validation, balance checks, and routes clean payloads to the matching engine via Redis.
• Database & Persistence (/prisma): PostgreSQL managed via Prisma. Responsible for asynchronous state persistence, user models, and immutable trade history logs.
• Testing Suite (/test): Dedicated load-testing environment built to hammer the engine with high-frequency concurrent orders and verify state integrity.

Running Locally

1. Clone & Install

git clone https://github.com/ayeangad/Centralised-Exchange.git
cd Centralised-Exchange
bun install

2. Environment Configuration

Create a .env file in the root directory and configure the following required variables: Code snippet

REDIS_URL=redis://localhost:6379
DATABASE_URL=postgresql://user:password@localhost:5432/exchange
JWT_SECRET=your_jwt_secret_key
ADMIN_SECRET=your_admin_secret_key

3. Start the Services

The architecture requires running the matching engine and the API backend as separate processes.

Start the Matching Engine (Queue Consumer):

bun engine/index.ts

Start the API Backend:

bun backend/index.ts

Performance & Load Testing

The engine is engineered to handle sustained high-frequency throughput without memory leaks or state corruption.

Benchmark results executed via bun loadtest.ts (simulating high-concurrency user environments):

• Perpetual Market Throughput: 10,000 successful matches (0 failures).
• Spot Market Throughput: 10,000 successful matches (0 failures).
• Latency: Sub-15ms balance addition and initial state loading, maintaining continuous stable execution throughout the 20k total order volume stress test.

Technologies

Runtime: Bun

Language: TypeScript

Database: PostgreSQL & Redis

ORM: Prisma