Exchange Matching Engine Architecture: Low-Latency Order Matching (2026)
How an exchange matching engine works: the limit order book, price-time priority, deterministic single-threaded matching, sequencing, and sub-microsecond design.
Transaction Cost Analysis: A 2026 System Architecture
A 2026 architecture for a transaction cost analysis (TCA) system: benchmarks, the data pipeline, slippage decomposition, and execution-quality reporting.
Implementation Shortfall Execution Algorithm: Architecture
A 2026 system-design walkthrough of an implementation shortfall execution algorithm: the Almgren-Chriss frontier, scheduling, the slicer, and TCA feedback.
VWAP Execution Algorithm: System Architecture (2026)
A 2026 system-design walkthrough of a VWAP execution algorithm: volume curve forecasting, scheduling, the slicing engine, and transaction cost analysis.
Perpetual Futures Funding-Rate Engine: Architecture (2026)
A 2026 systems design for a perpetual futures funding-rate engine: index/mark price, premium aggregation, settlement scheduling, and failure modes.
Smart Order Routing Engine Architecture (2026)
A 2026 systems design of a smart order routing engine: venue selection, latency budgets, best-execution logic, risk checks, and the failure modes that bite.
Order Management System Architecture for Trading (2026)
Order management system architecture for trading — event-sourced state, FIX gateways, risk checks, and idempotent execution, as a system design.
Event-Driven Backtesting Engine Architecture: Eliminating Lookahead Bias in Algorithmic Trading Systems
How event-driven backtesting engines prevent lookahead bias and ensure backtest-to-live fidelity. NautilusTrader and LEAN architecture teardown, order book simulation, and latency modeling.