Order Book
Categories: Trading
Today's sophisticated bookies probably just have app they use to keep track of all their illegal sports betting. However, in the olden days, they'd have to use a little notebook to write everything down...hence the name "bookies."
An order book takes this concept out of the backrooms of pool halls and onto Wall Street. It consists of a record of buy and sell interest for a particular security or other tradable asset. Buy and sell orders go into the book. Then a program uses that info to match buyers with sellers, facilitating transactions.
