How does the Stock Market work from a technical perspective?

[Anonymous No.50761424]

I'm really interested in the inner workings of the Stock Market.
Are there any books about it? If I search for "How does the stock market work", I just get basic bitch info about investing.

For example:
>Who actually knows that I own a certain amount of stock in a company? It can't be managed by my broker, or else I would loose all my stock if he went bankrupt
>Do you get a unique "Trader ID" or something when you register with a broker? I mean an ID on the global scale, not just in your brokers' system
>There are different markets and each of them has multiple exchanges. How do the exchanges know about availability of stock? How do the markets know?
>What does the server architecture look like in a stock exchange?
>Why the fuck are there trading hours if you can also trade outside of these hours? Are humans actually needed? I very much doubt that my order gets checked and approved by some dude on wallstreet

[Anonymous No.50761452]

>>50761424
It's abstracted and deep as fuck, all paper contracts and word of mouth promises.

[Anonymous No.50761453]

Redditors see number going up, fomo in, post green wojaks and taught 'bobos', then when it goes down they cry and seethe about 'greedy bobos shorting the market' and it basically follows that one memechart.

[Anonymous No.50762126]

Damn that's hard to answer, go to the exchange museum/take a guided tour and maybe someone can answer

[Anonymous No.50762215]

>Who actually knows that I own a certain amount of stock in a company? It can't be managed by my broker, or else I would loose all my stock if he went bankrupt
I believe it is your broker, but your holdings should be insured in the case they go bust. Not 100% positive though

>Do you get a unique "Trader ID" or something when you register with a broker? I mean an ID on the global scale, not just in your brokers' system
No such thing as a "global" trading ID. An exchange can assign IDs to different participants in their systems (brokers and institutions), and you also get one in your broker's systems. It's all specific to a particular exchange/broker's system. The exchange usually does not even see the individual making the trade, just the broker.

>There are different markets and each of them has multiple exchanges. How do the exchanges know about availability of stock? How do the markets know?
Depends on the market. Why would an exchange care about the availability of it though? Their job is to keep track of market orders/trades, not actually know who has what.
In general I would say availability is not very well defined though. Can go into more detail if you want.

>What does the server architecture look like in a stock exchange?
Depends on the exchange, it's usually a set of switches routing customer orders to one of several matching engines, which keep track of the order book. Each exchange has its own quirks though, again feel free to ask more.

>Why the fuck are there trading hours if you can also trade outside of these hours? Are humans actually needed? I very much doubt that my order gets checked and approved by some dude on wallstreet
Some venues have different hours than others, and there are after-hours sessions too (some exchanges like ICE have more incentives if you trade after hours since they want to boost liquidity during those hours)

Source: me, trading system developer at HFT firm

[Anonymous No.50762243]

>>50762215
Forgot to say, "Trading and Exchanges: Market Microstructure for Practitioners" is a good book that explains markets pretty in depth.
Does not have info on the more technical exchange infra stuff you asked tho

[Anonymous No.50762309]

>>50761424
I really appreciate your question.
I think about the same exact things and I'm interested to hear some answers

[Anonymous No.50763138]

When you're wondering about the peak of high finance you're really just asking about some facet of the government. It's also why it's so purposefully obfuscated.