A unified order book combines trading orders from multiple sources or exchanges into a single, consolidated view. This aggregation provides a more comprehensive picture of market depth and liquidity for a particular asset. It allows traders to access broader market data and potentially achieve better execution prices.
Context
In the digital asset landscape, the concept of a unified order book is particularly relevant for decentralized exchanges (DEXs) seeking to compete with centralized platforms by aggregating liquidity across various protocols. News often reports on initiatives to build such unified systems, aiming to reduce market fragmentation and improve price discovery. Challenges include technical interoperability and the synchronization of real-time data across disparate sources.
This strategic integration of DLT into the national market system maintains regulatory compliance while establishing the architectural foundation for T+0 settlement and enhanced capital efficiency.
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