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High-Frequency Trading
Speed, markets, and systems at the frontier of finance.
Learn market structure, order books, matching engines, latency optimization, and the systems that execute trades in microseconds.
6 articles · 3 videos · 1 trace · 1 request flow · 1 interview · 12 total
Articles
Adversarial Trading and Market Surveillance
How exchanges detect manipulative trading patterns like spoofing and layering, and how traders adapt to surveillance systems.
Colocation and Hardware Acceleration
How trading firms colocate servers at exchanges, use FPGAs and kernel bypass to shave microseconds off latency.
Market Data Feeds and Parsers
How exchanges broadcast real-time market data, the FIX and ITCH protocols, and how feed handlers parse data at line rate.
The Matching Engine: Order Matching Algorithms
How exchanges match buy and sell orders using price-time priority, pro-rata allocation, and lock-free data structures.
Order Types and the Order Book
Limit orders vs market orders, how they fill, and how the order book depth works.
What Is a Financial Market?
A market where buyers and sellers exchange assets. Learn about exchanges, order books, bids, asks, and how prices are discovered.
Request Flows
Videos
High-Frequency Trading Advanced
Colocation, FPGA acceleration, and the adversarial arms race between trading algorithms and market surveillance.
DetailsHigh-Frequency Trading Foundations
A beginner walkthrough of financial markets, order books, market order execution, and why latency matters.
DetailsHigh-Frequency Trading Intermediate
Matching engines, market data feeds, and how trading systems are built for speed.
DetailsTraces
Interviews
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