Overview
Order flow is the stream of buy and sell orders reaching a market or venue. It drives price discovery and fees. It is a key resource in trading.
How It Works
Order flow aggregates the orders submitted by traders. Venues capture and execute it, earning fees. It can be routed or auctioned, influencing execution quality.
Why It Matters
Order flow determines venue revenue and trading efficiency. Its routing affects MEV and user outcomes. It is central to exchange economics.
Related Concepts
Order flow relates to Order Books, DEXs, and MEV. It drives Trading activity and fees.