Determinism
Every accepted command is processed in a single gap-free sequence. The same ordered input produces identical trades and book states — on any server, on any replay. No randomness, no hidden timing dependence.
FinBlocks Tech · The Mehrex Trading System
Mehrex. Launch an auction market for anything.
Mehrex is the matching, risk and clearing engine underneath — deterministic, exactly replayable, and ready in weeks rather than years. Fractional gold, energy certificates, wholesale metals, agricultural commodities, securities: one matching model, differentiated by configuration.
Lighter price than the incumbent programmes, faster to a live market, and a partnership that bends to your market model.
ACME.EQ · Order bookRegular trading09:30:00
Last148.25
Inside market148.25 / 148.30
Spread0.05
148.552,200
148.501,500
148.453,400
148.40900
148.352,600
148.301,800
spread 0.05
2,100148.25
3,300148.20
1,200148.15
4,100148.10
900148.05
2,600148.00
PrintsAggressor
- 09:29:58B148.251,200
- 09:29:55S148.25400
- 09:29:51B148.302,500
- 09:29:47S148.20900
orders 1,842 · trades 407
journal seq 18,442,907
journal seq 18,442,907
Simulated order flow, matched in the browser by the same rules the engine applies. Ink flashes a change in resting volume, vermilion an execution. Not live market data.
<1 ms
Typical order round-trip on commodity hardware
Provable
Every trade reproducible exactly from the journal
Any asset
One matching model, configured not coded
Day one
Every module a market needs, in the box
Wherever buyers and sellers meet on price.
An instrument is a definition — a lot size, a tick table, a session schedule, a settlement arrangement. Change the definition and you have changed the market, not the engine. Each page below takes one market and says what Mehrex does, and what it leaves you to build.
Market
Fractional gold
An app that sells sub-gram quantities of gold to retail buyers, run as a real order book instead of a dealer’s quote.
Read the page →MarketEnergy certificates
Energy-saving certificates, RECs, guarantees of origin and carbon credits — instruments defined by paper, priced today by survey.
Read the page →MarketWholesale metals
Silver, zinc and copper in physical lots — brokered by telephone today, at differentials nobody publishes.
Read the page →MarketAgricultural commodities
Grain, coffee, cocoa and pulses traded as graded, warehouse-receipted lots on a frontier-market exchange.
Read the page →MarketCommodity murabaha
Islamic finance needs a genuine commodity sale with a provable order of events — the part most tawarruq platforms assert rather than demonstrate.
Read the page →Six modules, one validated and sequenced path.
Every access channel converges on a single ingress, so risk controls, entitlements and throttles hold uniformly however a participant connects — the bundled front-end, an OMS over the API, a FIX session, or an operator in the Control Panel.
01 · core
Matching Engine
Price–time priority (FIFO) matching across equities, fixed income, futures, options, rights and ETFs — one model, differentiated by configuration. The matching algorithm is pluggable per instrument, so pro-rata and other schemes can be introduced for specific classes.
Read more →02 · channelMarket Control Panel
The operator’s single point of control over the market, in a browser. Every operator action travels the same validated, sequenced, journaled path as an order — so the audit trail of market operation is as rigorous as the audit trail of trading.
Read more →03 · channelClient Trading Front-End
A deliberately simple front-end so licensed traders can participate from day one — no third-party software required to launch a venue, and short onboarding for member firms.
Read more →04 · coreRisk Management
Pre-order-entry and post-trade controls evaluated at clearing member, trading member and end-investor level. An order is accepted only if every applicable level passes.
Read more →05 · post-tradeClearing
A clearing component operating on the trade stream, keeping the trading core independent of any particular settlement regime.
Read more →06 · channelConnectivity & Market Data
A protocol-agnostic command API: the same validated, sequenced path serves every access channel, so risk controls, entitlements and throttles hold uniformly however a participant connects.
Read more →Technology
In a regulated market, a fast-but-occasionally-wrong matcher is worthless.
Durability
Commands are journaled before they execute; no trade exists whose command is not written. Recovery is a replay — sessions, resting orders, hidden iceberg remainders and sequence numbers restored exactly. Fail-stop, never fail-wrong.
Auditability
Operator actions travel the same sequenced path as orders, so the journal is a complete timestamped record of what happened and who caused it — the maker and the approver of every administrative action included.
Performance
The matching path is entirely in memory, with no I/O and no locks on the critical path. Sub-millisecond to low-millisecond round-trips on commodity server hardware — no exotic network cards, no kernel tuning.
Sessions are configuration, not code.
The trading day is a schedule of session types, configured per market with per-instrument overrides. Transitions fire at an exact time, at an undisclosed moment inside a published window as an anti-gaming measure, or when the preceding session completes.
Reference
Sessions, order types and priority
The seven session types and what each admits, the four order types and five validity options, the type/validity matrix per session, tick tables, and the four priority tiers the book resolves in.
Read the market model →ReferenceOne order, end to end
Entry, identity, validation, risk, sequencing, match and report — six stages with the actual message at each hop and the guarantee the stage gives you.
Follow an order →Launch or replace a market
Gold, certificates, metals, grain, equities, fixed income or derivatives on one matching model. Instruments, lot sizes, tick tables, calendars and sessions are configured in the browser and published as versioned reference-data bundles — no engine restart.
Run your own venue
Onboard members and their end clients under a Firm / Node / User hierarchy, assign named risk profiles, and let members trade from the bundled front-end on day one or integrate their OMS over the API.
Prove the model, then scale
Start with a handful of instruments on a single commodity server and distribute order books across servers as the count grows. Alternative matching algorithms plug in per instrument class, so an unusual market structure is a configuration rather than a fork.
Three phases, named people, no mystery.
Market model workshop
We map your instruments, sessions, tick tables, risk regime and settlement arrangements onto the platform’s configuration — and tell you plainly what is standard and what is not.
Configure and test
A structured customer-testing programme for you and your members: conformance against the trading and market-data interfaces, dress rehearsals, and release notes for every change.
Go live and support
Named technical account management for functional queries, a separate channel for live incidents, and any production incident reproducible exactly from the journal.
Next step
Tell us about your market. We will show you the engine matching.
A live demonstration runs about an hour: the order book, the Control Panel, an auction uncrossing, and a replay of the journal that produced it.