25 lines
829 B
Plaintext
25 lines
829 B
Plaintext
@startmindmap
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* Algo trading concepts
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** Exchange order book: maintains all incoming buy/sell orders in exchange
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*** Buy order (bids): sort from high price to low
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**** same price? depending matching algo (e.g. FIFO)
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*** Sell order (asks): sorted from low price to high
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*** participant can:
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**** place new order
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**** cancel order
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**** modify order detail
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** Exchange matching algo:
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*** when match happen
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**** when incoming bids >= existing ask
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**** when incoming asks <= existing bids
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*** FIFO matching
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**** priority sequence: price > time
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*** Pro-rata matching
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**** priority sequence: price > quantity > time
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** Limit order book:
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*** built by market participants
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*** market data sent out by exchange
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*** purpose: collect/arrange bids/offers to get insight InterfaceBorderColor
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** Exchange market data protocols
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***
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@endmindmap |