Order semantics
ImplementationTypes, priority, cancel, partial fills
ValidationCancel/fill races and uncertain submissions
Build the order-to-record workflow
Connect order entry, execution status, balances and reconciliation records
A cancellation is requested for a partially filled order.
- Input
- Order record · filled quantity · remaining quantity
- Review
- Event order and balance/order consistency
NEXT ACTION
Update the remaining order and records with the cancellation result
IMPLEMENTATION SCOPE
Consistency from orders to ledger
Define order, matching, balance and transfer states alongside ledger rules. Control duplicate events and concurrency, with operational reconciliation and recovery.
- What we build
- Trading UI · order/matching engine · ledger/balances · operations tools
- What we validate
- Duplicate orders, partial fills, insufficient funds, transfer reconciliation and recovery
When this service helps
When trading functions need consistent order and asset records
- 1
Enter order conditions and quantity
- 2
Process orders, cancellations and fills
- 3
Reconcile balances and trading records
What the project delivers
- Order and execution interface/API
- Trade-state and balance logic
- Reconciliation and recovery checks
Specific features, integrations and operating support are agreed in the project proposal
Start by reviewing your integration needs
Tell us about the chain, custody, approval policies, external modules and operating responsibilities. We will define the needed functionality and acceptance scope.
Discuss this serviceTechnical design and acceptance criteria
Details for technical reviewers. Architecture and acceptance criteria are agreed for the actual environment and project scope.
- Price–time priority
- Deterministic sequencing
- Ledger invariants
- Snapshot + Delta
Processing flow and exceptions
For an internal order book, price–time priority produces fills whose holds, fees, balances, and cancellation releases are recorded in the ledger. An external-venue system replaces the matching stage with an adapter.
Architecture summary
- Order semantics — Types, priority, cancel, partial fills
- Ledger consistency — Precision, holds, fees, idempotent posting
- Stream recovery — Snapshot, delta, sequence, backpressure
02Acceptance criteria
Implementation and acceptance criteria
Concrete design decisions and acceptance scenarios to agree for the project.
Ledger consistency
ImplementationPrecision, holds, fees, idempotent posting
ValidationDuplicate fills, event replay, balance reconciliation
Stream recovery
ImplementationSnapshot, delta, sequence, backpressure
ValidationSequence gaps, slow consumers, reconnect
Technology choices and acceptance criteria depend on discovery, integrations, and agreed scope. We define reproducible acceptance scenarios and handover evidence for the operating environment.
03Implementation details
Engineering decisions
in detail
From visible features to failure conditions,
we work through the decisions before launch.
Specify order sequencing and state transitions
Agree on supported order types, time-in-force, cancellation, and partial-fill semantics. Internal matching requires explicit priority, event ordering, and replay behavior; venue integration requires client-order IDs and status mapping. After a disconnect, reconcile uncertain submissions against authoritative records instead of guessing whether an order was accepted.
Couple reservations with ledger invariants
Distinguish available, held, and settled balances and define entries for orders, fills, fees, and released holds. Use asset-specific precision and rounding rules that avoid binary floating-point errors. Detect repeated fill events and replay, and validate invariants between execution records and ledger entries rather than trusting a displayed balance alone.
Recover market streams with snapshots and sequence checks
On reconnect, combine a snapshot with subsequent deltas according to the venue or engine’s sequencing contract. Detect missing, reordered, and stale updates and expose the resynchronizing state. Define buffering, backpressure, and update cadence for slow consumers. Keep presentation latency separate from the authoritative order and ledger processing path.
Keep asset movement and controls outside matching
Give deposits and withdrawals their own confirmation, custody, signing, limit, and reconciliation boundaries. Recovery checks include event replay, duplicate-fill prevention, and balance reconciliation. Specify responsibility for identity checks, surveillance, Travel Rule integrations, and liquidity; software delivery does not establish regulatory authorization.
04Handover
Detailed deliverables
- Module ownership, order and ledger models, and integration contracts
- Agreed trading interfaces, APIs, and operational tools
- Consistency, load, and recovery tests with operating procedures
05Before implementation
Questions before implementation
- Internal execution or integration with external venues
- Custody, order types, fees, and settlement rules
- Liquidity, identity and monitoring providers, and jurisdictional requirements
How your project moves forward
Discover
Understand your goals, workflows, and operating environment.
Define
Define features, priorities, and integration requirements.
Build
Build the agreed scope and review progress together.
Launch & Operate
Prepare testing, deployment, and operational handover.
Let’s discuss your project
Tell us what you want to build or improve
Our team will review your request and reply by email