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An Introduction to Trading In the Financial Markets: Technology: Systems, Data, and Networks by R. Tee Williams

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1

Purposes

We define eight major purposes that systems in the financial markets serve. These purposes, illustrated in Figure 1.1, are described in more detail in the other chapters of this part.

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Figure 1.1 A system’s purpose can be grouped into eight major categories.

Many of the major systems within the trading markets are used, with slight variations, by entities on both the buy and sell sides. Therefore, we describe basic categories of systems and then use these categories to explain systems used by specific functions on the buy and sell sides. To the extent there are differences in systems used by the buy and sell sides, we explain those differences ...

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