Market Mechanics

Market mechanics encompasses the structural processes and systems that facilitate trading, including order execution, microstructure elements, and trading venues.

Market Microstructure

Market microstructure examines the detailed mechanics of how trades execute, including order books, price formation, liquidity provision, and transaction costs.

Order Execution

Order execution is the process of completing a buy or sell order in the market, involving routing, matching, and settlement of trades.

Trading Venues

Trading venues are marketplaces where securities are bought and sold, including public exchanges, dark pools, and electronic communication networks.