4 ms·
How exactly would would this design keep track of how many funds a client has in order to fulfill an order? How does NASDAQ keep track of client's total funds?
by nullhash 4y ago
How exactly would would this design keep track of how many funds a client has in order to fulfill an order? How does NASDAQ keep track of client's total funds?
- iav 4y agoThey don't. Remember that NASDAQ's clients are Jane Street, Goldman Sachs, i.e. not you or me. They don't onboard a client with doing due diligence. Then there is a clearing and settlement system called DTCC that requires every firm to post collateral equal to their trading volume. This system's primary job is to make sure everyone has enough funds to pay for their trades across all exchanges, not just NASDAQ.