Matching Engines and Deterministic Replay
A matching engine applies a totally ordered command stream to a deterministic state machine and emits executions, acknowledgements, and market-data effects.
Planned model
Sequence commands through validation and matching while exposing price-time queues, emitted events, snapshots, replay, and failover divergence.
Questions
- What establishes one authoritative command order?
- Which inputs besides commands can break determinism?
- How are output and durable state coordinated?
Exercise
Define the minimum replay log needed to rebuild identical book state and outputs after a crash.