Global Order Book

Definition ∞ A Global Order Book is a consolidated record of all buy and sell orders for a specific asset across multiple exchanges or trading platforms worldwide. In digital asset markets, this refers to an aggregated view of liquidity for cryptocurrencies, providing a comprehensive display of market depth. It allows traders to gauge global supply and demand dynamics, influencing price discovery and execution strategies. This aggregated data offers a more complete picture of market activity than a single exchange’s order book.
Context ∞ The concept of a global order book is particularly relevant in fragmented cryptocurrency markets, where liquidity is distributed across numerous trading venues. Debates often address the challenges of real-time data aggregation and the impact of varying regulatory environments on consolidated market views. Improved global order book functionality is crucial for enhancing market efficiency and reducing price discrepancies across different platforms.