It would appear likely, because at the core of the Aquarius exchange resides a matching engine with throughput in excess of 100m trades per second — better than any other known exchange today.
There are exchanges making claims to be leaders in terms of latency… as if latency is at all relevant if all users receive the market data at the same time. We don’t believe it is.
In addition, speed for speed’s sake is “nothing” if never tested or stressed. (Even though most successful exchanges have faltered because of throughput issues during times of market volatility). But traditional institutional grade exchanges that utilise guaranteed (TCP/IP) protocols could never stress a core engine at 100th the speed because no existing traditional exchange can manage a network of enough concurrent connected users needed to stress such a platform 1/10 the size. …
First, a key definition of an open order book might help. To précis Investopedia, ‘an order book is an electronic list of buy and sell orders for a specific financial instrument, organised by price level’.
More detail can be read here: https://www.investopedia.com/terms/o/order-book.asp
Next, let’s try and attempt to define what is largely considered to be a “fair price” by the active trading community.
A fair price is a price that any given customer can submit (for possible execution as a Limit Order) or can transact (as a Market Order) at the “top of the order book” — which is the current best bid or best offer made by other traders within the community. …
One consistent theme that is mentioned to us by active traders is the expense of trading and often the opaque nature of fee structures.
Today, traders are either being charged a variable mark up on their bid/offer price; or a variable fee based on trading volume. This amounts to significant aggregated charges to the trading community. Indeed, our research* suggests that active traders are paying circa $3.5bn per year on commission to exchanges. So, it’s big business for exchanges.
We believe there is a better way to work with active traders.
From launch, Aquarius will not add any mark up or charge trading fees for any customer type. …