4

Exchanges and Other Marketplaces

Exchanges and other marketplaces facilitate trading and may perform other services as well. Trading venues all perform the functions required to execute a trade. For example, markets manage trading, enforce their regulations, manage members and listings, and collect and sell the data created in the market. Figure 4.4 shows the functions required for exchanges and other trading venues.

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Figure 4.4 Exchanges and other marketplaces match buy and sell orders from participants in the trading markets.

Trading operations

The trading operations department manages the trading activities, whether on the floors, among linked ...

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