SYSTEMS / 12

Synthetic exchange

A limit order book driven by stochastic events. Observe liquidity, matching, and a quoting agent.

LOADING ENGINE

MID-PRICE—

SPREAD—

IMBALANCE—

INTENSITY—

EVENTS—

ORDER BOOKTICK .01

PRICEQUANTITY

ASK · PRICEQTY

MID—↔ —

BID · PRICEQTY

ASK / SELLBID / BUY

MID-PRICEEVENT TIME

ARRIVAL INTENSITYPOISSON

EVENT TAPELATEST FIRST

TIME	EVENT	QTY

Book initialized.
Start the event clock or step through one arrival.

RECENT TRADES

No trades yet.

MARKET-MAKING AGENTDISABLED

INVENTORY—

CASH—

MARK-TO-MARKET P&L—

FILLS—

MAX |INVENTORY|—

SPREAD CAPTURE—

Quotes shift against inventory. Fills come from actual resting orders. P&L = cash + inventory × mid-price. No fees, latency, or adverse-selection model. Read assumptions ↗

ORDER FLOW / AGENTCONFIG

MODEL

Price-time priority · limit / market / cancellation events · integer price ticks · synthetic liquidity replenishment. This sandbox does not reproduce a real financial market.

SPACE start / pauseR reset: commandCOMPUTED LOCALLY · C++20 / WASM