2026-07-22T03:56:57Z https://drops.dagstuhl.de/oai

oai:drops-oai.dagstuhl.de:24752 2026-01-21T09:56:31Z ddc:004 open_access

Cuttlefish: A Fair, Predictable Execution Environment for Cloud-Hosted Financial Exchanges Yu, Liangcheng Goyal, Prateesh Marinos, Ilias Liu, Vincent Cloud-hosted exchanges Financial exchanges Computation and communication variances Virtual time overlay Recent years have seen a rising interest in cloud-hosted financial exchanges. While the public cloud platforms promise a cost-effective and more accessible option to traders, unfortunately, achieving fairness in cloud environments is challenging due to non-deterministic network latencies and execution times. This work presents Cuttlefish, a fair-by-design cloud execution environment for algorithmic trading. The idea behind Cuttlefish is the efficient and robust mapping of real operations to a novel formulation of "virtual time". With it, Cuttlefish abstracts out the variances of the underlying network communication and computation hardware. Our implementation and evaluation not only validate the practicality of Cuttlefish, but also show its operational efficiency on public cloud platforms. Schloss Dagstuhl – Leibniz-Zentrum für Informatik Liangcheng Yu and Prateesh Goyal and Ilias Marinos and Vincent Liu 2025 Is Part Of LIPIcs, Volume 354, 7th Conference on Advances in Financial Technologies (AFT 2025) InProceedings Text doc-type:ResearchArticle publishedVersion application/pdf doi:10.4230/LIPIcs.AFT.2025.33 urn:nbn:de:0030-drops-247521 https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.AFT.2025.33 eng https://creativecommons.org/licenses/by/4.0/legalcode