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Decoding Order Execution: Technology at the Heart of Modern Brokerages
From Click to Clearing—Unravel the Invisible Infrastructure Behind Every Trade
When an investor taps "Buy," a cascade of high-speed, precision-engineered technologies is set in motion. Decoding Order Execution lifts the hood on this process, offering a clear, comprehensive, and technically rigorous exploration of the systems that drive modern brokerages.
Spanning equities, bonds, and cryptocurrencies, this book traces the full trade lifecycle—from order entry and smart routing to matching engines, settlement, compliance, and post-trade analytics. It dissects how market data is aggregated and routed, how risk is managed in real time, and how technologies like FIX protocol, cloud infrastructure, blockchain, and AI shape today’s brokerage landscape.
Key topics
The architecture of order routing and market connectivity
The differences between equity, fixed income, and crypto execution
Clearing and settlement mechanics across asset classes
Surveillance systems, regulatory reporting, and AML automation
The impact of HFT, API integration, latency tuning, and disaster recovery
Whether you’re a financial technologist, operations professional, or investor seeking to understand the systems beneath the surface, Decoding Order Execution provides a rare deep dive into the infrastructure that enables capital markets to function securely, efficiently, and at scale.
When an investor taps "Buy," a cascade of high-speed, precision-engineered technologies is set in motion. Decoding Order Execution lifts the hood on this process, offering a clear, comprehensive, and technically rigorous exploration of the systems that drive modern brokerages.
Spanning equities, bonds, and cryptocurrencies, this book traces the full trade lifecycle—from order entry and smart routing to matching engines, settlement, compliance, and post-trade analytics. It dissects how market data is aggregated and routed, how risk is managed in real time, and how technologies like FIX protocol, cloud infrastructure, blockchain, and AI shape today’s brokerage landscape.
Key topics
The architecture of order routing and market connectivity
The differences between equity, fixed income, and crypto execution
Clearing and settlement mechanics across asset classes
Surveillance systems, regulatory reporting, and AML automation
The impact of HFT, API integration, latency tuning, and disaster recovery
Whether you’re a financial technologist, operations professional, or investor seeking to understand the systems beneath the surface, Decoding Order Execution provides a rare deep dive into the infrastructure that enables capital markets to function securely, efficiently, and at scale.
214 pages, Paperback
Published May 9, 2025
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