Create a Process Flow diagram/chart based on the following: Customer Places Order: The customer places an order through the trading platform, specifying the instrument, quantity, and order type (market order, limit order, stop-loss order, etc.). Order Routing: The trading platform receives the order and routes it to the appropriate market or exchange. Order Matching: The order is placed in the order book, where it is matched with other orders based on price and time priority. Trade Execution: If a match is found, a trade is executed. The trade details, including price, quantity, and counterparty, are recorded. Trade Confirmation: The trade is confirmed to both parties involved, and the corresponding accounts are updated. Settlement: The trade is settled, and the securities or funds are transferred accordingly. Roles and Decisions: Customer: Decides on the order type, quantity, and instrument to trade. Trading Platform: Routes orders to the appropriate market, matches orders, executes trades, confirms trades, and updates accounts. Market or Exchange: Provides liquidity and facilitates order matching. Cross-Functional Interactions: The trading platform interacts with the market or exchange to route orders and match trades. The trading platform interacts with the customer to provide order status updates and trade confirmations.
Create a Process Flow diagram/chart based on the following:
Customer Places Order: The customer places an order through the trading platform, specifying the instrument, quantity, and order type (market order, limit order, stop-loss order, etc.).
Order Routing: The trading platform receives the order and routes it to the appropriate market or exchange.
Order Matching: The order is placed in the order book, where it is matched with other orders based on price and time priority.
Trade Execution: If a match is found, a trade is executed. The trade details, including price, quantity, and counterparty, are recorded.
Trade Confirmation: The trade is confirmed to both parties involved, and the corresponding accounts are updated.
Settlement: The trade is settled, and the securities or funds are transferred accordingly.
Roles and Decisions:
Customer: Decides on the order type, quantity, and instrument to trade.
Trading Platform: Routes orders to the appropriate market, matches orders, executes trades, confirms trades, and updates accounts.
Market or Exchange: Provides liquidity and facilitates order matching.
Cross-Functional Interactions:
The trading platform interacts with the market or exchange to route orders and match trades.
The trading platform interacts with the customer to provide order status updates and trade confirmations.
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