Track 01
Run in order5 cases · 3h 27m · Intro to advanced
Market Microstructure
An order book with nobody informed, then a call auction, then a shock with no news behind it, then a trader who knows more, then an order large enough to move the price.
The arc
- 151 min
TR1 Genie Bottles — Order-driven Markets
A price forms from nothing but what each trader would pay.
- 260:30
TR3 Multi-Asset Order-Driven Markets
A call auction sets the open; news reaches one desk first.
- 325 min
A price moving hard with no news behind it.
- 440 min
One trader holds a better estimate than the rest.
- 530 min
An order large enough to move the price.