Financial exchanges have recently shown an interest in migrating to the public cloud for scalability, elasticity, and cost savings. However, financial exchanges often have strict network requirements that can be difficult to meet on the cloud. Notably, market participants (MPs) trade based on market data about different activities in the market. Exchanges often use switch multicast to disseminate market data to MPs. However, if one MP receives market data earlier than another, that MP would have an unfair advantage. To prevent this, financial exchanges often equalize exchange-to-MP cable lengths to provide near-simultaneous reception of market data at MPs. As a cloud tenant, however, building a fair multicast service is challenging because of the lack of switch support for multicast, high latency variance, and the lack of native mechanisms for simultaneous data delivery in the cloud. Jasper introduces a solution that creates an overlay multicast tree within a cloud region that minimizes latency and latency variations through hedging, leverages recent advancements in clock synchronization to achieve simultaneous delivery, and addresses various sources of latency through an optimized DPDK/eBPF implementation -- while scaling to a thousand receivers. Jasper outperforms a prior system, CloudEx, and a commercial multicast solution provided by Amazon Web Services. We present different deployment models and their performance impact. A deployment model where MPs and the exchange do not have to trust each other is realized using confidential computing.

翻译：近年来，金融交易所为获得可扩展性、弹性与成本效益，展现出向公有云迁移的兴趣。然而，金融交易所通常具有严格的网络要求，这在云端环境中往往难以满足。值得注意的是，市场参与者依据反映市场各类活动的行情数据进行交易。交易所通常采用交换机多播向市场参与者分发行情数据。但若某一市场参与者较其他参与者更早接收到行情数据，该参与者将获得不公平的交易优势。为防止此类情况，金融交易所通常通过等长化交易所至市场参与者的电缆长度，以实现行情数据在参与者端的近乎同步接收。然而，作为云租户，在云端构建公平的多播服务面临诸多挑战：包括交换机缺乏多播支持、高延迟波动性，以及云端缺乏原生同步数据交付机制。Jasper提出了一种解决方案，通过在云区域内构建覆盖多播树，利用对冲机制最小化延迟及其波动性；借助时钟同步技术的最新进展实现同步交付；并通过优化的DPDK/eBPF实施方案应对各类延迟源——同时可扩展至上千个接收节点。Jasper在性能上超越了先前系统CloudEx及亚马逊云科技提供的商用多播解决方案。本文探讨了不同的部署模型及其性能影响，其中通过机密计算实现了市场参与者与交易所无需相互信任的部署模式。