Get the latest tech news
Market Structure Primer (2019)
A Primer on Equity Market Structure by Proof.
The purpose of this document is to provide an overview of the US equity trading landscape. It started as an onboarding document to help new hires who aren't as well versed in market structure. The visual Life Cycle of an Order also provides a handy view of the various events and entities involved in the process of a trade - from conception to completion.
Or read this on Hacker News