Futures companies and exchanges are connected by dedicated lines, such as 128KB DDN dedicated line or 2M SDM data dedicated line. Its effect is equivalent to the intranet of local area network, which is very fast and has almost no delay. Generally, it takes no more than 100ms, that is, 0. 1 sec.

However, if a customer places an order remotely at home, there is a routing problem because it is on the Internet (public network). If the routing is not smooth, or there is a great delay, it is even impossible to send and receive packets normally.

Regarding the speed limit for the exchange to report orders to customers, taking Dalian Exchange as an example, the maximum length of a complete return instruction does not exceed 180 bits, that is, 180b. According to the bandwidth access calculation suggested by the exchange to futures companies, a futures company can accommodate 728 people to declare orders at the same time (per second). In fact, the bandwidth reserved by the exchange for futures companies is much larger than 128K K. For example, Shanghai Futures Exchange can connect a 2M digital circuit, so this bandwidth can allow more than 1 1,000 people to place orders at the same time.

As for "8000 orders per second in Shanghai", you mean the matching speed of the trading host, not the return speed of pending orders. As long as a pending order enters the quotation machine of the exchange, it will immediately feed back a signal that the pending order is successful, which has nothing to do with the matching speed. Because the offer is made through the offer machine, which is the front end of the transaction server. Just like when we were on the phone, the telecommunication bureau rang the other party's phone at the same time.