Browse Definitions :
Definition

OUCH protocol

OUCH is a digital communications protocol that allows customers of the NASDAQ (National Association of Securities Dealers Automated Quotations) to conduct business in the options market. With OUCH, subscribers can place, execute or cancel orders. OUCH allows subscribers to integrate NASDAQ into their proprietary networks. The earliest version of OUCH was developed in 1997. The protocol has been revised numerous times since then.

OUCH is a low-level native protocol designed for high performance and minimal latency. In order to achieve optimum functional efficiency and speed, some flexibility is sacrificed. NASDAQ offers other protocols that are more developer-friendly but do not provide the degree of performance achievable with OUCH.

The protocol works by passing logical messages of specific length between the host and the client application. All messages sent to the host can be retransmitted in the event of a temporary hardware failure or software error. By connecting a single OUCH account to more than one machine, redundancy and fault tolerance are achieved.

OUCH ensures that messages from customers are processed in the same sequence as they are received. Each new order contains a token specifying the date and the name of the account. Once a token has been used, it automatically expires so it cannot be used again. When an order has been placed, executed or canceled and the action has been accepted by the host, an acknowledgment message is sent to the client.

Inbound (client-to-host) messages can include the following types:

  • Order entry
  • Cross order entry
  • Order cancellation entry

Outbound (host-to-client) messages can be more diverse, including:

  • Start of day
  • End of day
  • Time stamp
  • Order request
  • Order acceptance
  • Order rejection
  • Order execution
  • Cancel pending
  • Cancel rejection
  • Order cancellation
  • Broken trade
  • Price correction

According to a NASDAQ representative, the letters in "OUCH" don't stand for anything.

This was last updated in January 2008

Continue Reading About OUCH protocol

SearchNetworking
  • network packet

    A network packet is a basic unit of data that's grouped together and transferred over a computer network, typically a ...

  • virtual network functions (VNFs)

    Virtual network functions (VNFs) are virtualized tasks formerly carried out by proprietary, dedicated hardware.

  • network functions virtualization (NFV)

    Network functions virtualization (NFV) is a network architecture model designed to virtualize network services that have ...

SearchSecurity
  • Android System WebView

    Android System WebView is a system component for the Android operating system (OS) that allows Android apps to display web ...

  • data masking

    Data masking is a method of creating a structurally similar but inauthentic version of an organization's data that can be used ...

  • computer worm

    A computer worm is a type of malware whose primary function is to self-replicate and infect other computers while remaining ...

SearchCIO
  • privacy compliance

    Privacy compliance is a company's accordance with established personal information protection guidelines, specifications or ...

  • contingent workforce

    A contingent workforce is a labor pool whose members are hired by an organization on an on-demand basis.

  • product development (new product development -- NPD)

    Product development, also called new product management, is a series of steps that includes the conceptualization, design, ...

SearchHRSoftware
  • talent acquisition

    Talent acquisition is the strategic process employers use to analyze their long-term talent needs in the context of business ...

  • employee retention

    Employee retention is the organizational goal of keeping productive and talented workers and reducing turnover by fostering a ...

  • hybrid work model

    A hybrid work model is a workforce structure that includes employees who work remotely and those who work on site, in a company's...

SearchCustomerExperience
  • Salesforce Trailhead

    Salesforce Trailhead is a series of online tutorials that coach beginner and intermediate developers who need to learn how to ...

  • Salesforce

    Salesforce, Inc. is a cloud computing and social enterprise software-as-a-service (SaaS) provider based in San Francisco.

  • data clean room

    A data clean room is a technology service that helps content platforms keep first person user data private when interacting with ...

Close