Trading & Investment
Some industries forgive a bugThis one doesn't
Trading & Investment sets the rules before you write a line.When the book moves in microseconds, the order that arrives a tick late has already been filled against you
Microsecond markets
Late is the same as wrong
Matching engines, market-data feeds and execution paths run at microsecond scale where order sequence is truth and latency is a tradable edge
The things that are never allowed to fail
- 01Deterministic matchingPrice–time priority holds under any load; the same order flow always produces the same fills
- 02Pre-trade risk in the pathFat-finger, position and credit limits clear before an order ever reaches the gateway, not after
- 03Traceable market dataEvery level 2/3 book state is reconstructable to the sequence number that produced it
- 04Synchronized timePTP-disciplined clocks and MiFID II timestamps so events order correctly across hosts and venues
- 05Live position & PnL truthPositions and PnL reconcile against fills continuously, not at end of day