Market microstructure

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Market microstructure

The functional setup of a market.

Market Microstructure

The way a market or exchange functions under a given set of rules. The study of market microstructure deals with how well or poorly an exchange's rules encourage efficient trading. For example, one who studies market microstructure might conduct research into the similarities and differences in exchanges that have open outcry trading and those that are exclusively electronic.
References in periodicals archive ?
This algorithm isn't based on a formula that 'works' - it is itself a market micro-structure.
By mitigating those factors which have generated market micro-structure advantages on other platforms, we have created a venue on which historically eschewed flows can interact in a controlled, equitable, and even manner.