Central Orderbook

This course contains animation-style videos with narration which set out the working of the central order book, which is operated by trading venues. It is explained how orders are being processed and how pricing takes place. Besides, attention is given to market liquidity and what the bidask spread concerns. It is set out the difference between order initiation and aggression, which orders have priority and which rules apply to order execution.

This course covers the following videos:

  1. Price formation – Introduction
  2. Price formation – One-way pricing
  3. Price formation – Two-way pricing
  4. Price formation – Price drivers
  5. Central order book – Introduction
  6. Central order book – Order book details
  7. Central order book – Rules of engagement
  8. Central order book – Opening rotation
  9. Central order book – During trading hours – Order submission
  10. Central order book – During trading hours – Order initiation
  11. Central order book – During trading hours – Order aggression
  12. Central order book – During trading hours – Order execution
  13. Central order book – Functioning
  14. Central order book – Filling the order book
  15. Central order book – RFQ
  16. Central order book – Voice brokering
  17. Central order book – Tick &tick size

Our Labels

Entrima and Market Abuse Centre (MAC) are the two labels we operate to provide learning services for professionals in the commodity & energy markets.

Content & Context

Entrima’s mission is to transfer knowledge regarding the business, controls & operations of parties in (or relating to) the wholesale markets.


Conduct & Culture

MAC’s mission is to facilitate the prevention & detection of misconduct and to foster proper behaviour in organisations. This is achieved via training, periodic updates and increased awareness.