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Quantitative Finance · Glosarium

Apa itu Exchange simulator?

Definition 26.1 Microstructure and Execution · Bab 26 — Build: A Matching Engine and Exchange Simulator

An exchange simulator is a program that behaves toward its participants as a venue does: it accepts and acknowledges orders through order-entry sessions, matches them by the venue’s rules, and publishes the resulting order-book events in a sequenced market-data feed, with the latencies, losses and failures of a real connection, and with results that depend only on its inputs.

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