I am working on a 5-part series for how to turn your existing Fpga Board into an FPGA Accelerated Network card, or into a ‘Smart-NIC’ that will parse and normalize multiple Market Data Feeds and maintain an order book.

Note: Part 2 is available now, but it includes all the code/IP for Part 1, I just did not get around to documenting part 1.  I will make some nice documentation and test simulations for Part 1, and then I will get to Part 4.

Here is a High-Level Diagram of the entire system:

• Part 1: Parse UDP/IP Data
• Part 2: Parse BATS (PITCH) Messages
• Part 3: Parse Nasdaq ITCH Messages
• Part 4: Maintain an OrderBook for a Single Security
• Part 5: Watch OrderBook for an Event