Design a Stock Exchange
Hard · System Design · about 45 minutes
Asked at Robinhood, Coinbase, Bloomberg, Block (Square), Citadel, Jane Street, Hudson River Trading, Optiver, Jump Trading, Susquehanna (SIG).
Design the trading core of a stock or crypto exchange. Clients place limit and market orders and cancel them; a matching engine pairs buys and sells by price-time priority and reports executions. Handle ~1M orders per second across ~10k symbols with microsecond-to-millisecond latency, and never lose an acknowledged order or trade.