Why Orderbook exists

Most market commentary explains what a price did. Orderbook is about the layer underneath: the venues, the flows, the inventory and the incentives that decide whether a market absorbs a shock or gaps through it.

One issue goes out every Sunday morning. It takes about eight minutes to read and it is written from scratch each week — no syndicated summaries, no sponsored placements, nothing between issues.

What a typical issue covers

• The tape. What actually traded, and where the liquidity came from.
• Plumbing. Funding, settlement, collateral — the parts that only make the news when they break.
• One idea, properly. A single mechanism explained end to end, rather than ten headlines summarised.

Who writes it

Orderbook is written and edited by one person. Corrections, arguments and tips are all welcome — reply to any issue, or write to [email protected].

Your email address

It is used to send you the newsletter and nothing else. It is never sold, rented or shared, and every issue carries a one-click unsubscribe link that works permanently. Sign-ups are confirmed by email, so nobody can add an address they do not control.

Not advice

Orderbook is journalism and analysis, not investment advice. Nothing in it is a recommendation to buy or sell anything.