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> The software at the heart of an exchange that manages the Order Book is called a Matching Engine, and must be very fast and reliable.

Does anyone know what language these systems are typically built with? Or have examples of their implementation?

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Typically C++, Java or C#, although the technology in the currencies trading world has generally lagged behind say, US cash equities where exchanges are catering more to electronic customers (a substantial portion of the currency trading user base is still trading manually).

Reuters changed over to a more modern platform around 2013, but prior to that for electronic trading they would basically designate a Windows host for you that ran their GUI application plus a server, which you could connect to and would just forward your requests via COM to the UI.

Nasdaq's is written in Java. The London Stock Exchange's engine is written in C++, and the previous version was C#.

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