Design Stock Exchange
What is a Stock Exchange?
A stock exchange is a centralized marketplace where buyers and sellers trade financial instruments like stocks, bonds, and derivatives. It acts as an intermediary that matches buy orders with sell orders to facilitate trades.
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The core function of a stock exchange is price discovery, determining the fair market price of a security based on supply and demand. When a buyer's price meets or exceeds a seller's price, a trade is executed.
Popular Examples: NYSE (New York Stock Exchange), NASDAQ, SENSE, Binance (for crypto)
In this chapter, we will explore the high-level design of a stock exchange system.
This problem tests your ability to design systems with ultra-low latency, high throughput, strong consistency, and fairness guarantees.
Let's start by clarifying the requirements: