Sharded Markets
Markets and data
Understand market metrics, orderbooks, and the difference between display scope and execution routing.
The market page combines reference metrics, live liquidity, recent activity, and the intent form.
| Display | Meaning |
|---|---|
| Price and 24h change | Latest market reference and relative daily movement. |
| 24h volume and trades | Persisted aggregate activity over the displayed period. |
| NBBO | Best bid and offer across active shards when available. |
| Orderbook and spread | Current executable bids and asks for global or selected shard scope. |
| Candle chart | Global trade history summarized into price candles. |
| Recent trades | Latest persisted fills in the selected display scope. |
Display scope and routing
Selecting Global, Micro, Retail, or Institutional above the orderbook changes displayed orderbook and recent-trade data only. Your execution target is selected separately inside the trade form.
A market card or reference price does not guarantee executable liquidity.
Read Understanding shards for execution eligibility and size policies.