Edel separates order processing, recovery, and settlement so integrators can evaluate each trust boundary. These diagrams show responsibility and authority without exposing deployment details.

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Order handling

Pre-trade risk checks cover margin, leverage caps, price bands, and self-trade prevention before an order reaches the book. Eligible orders are matched by a deterministic, in-memory matching engine, with no database on the order path. Public order entry passes eligible commands through an ordered command ring to the primary order book. At this level, the ring shows command order rather than a transport choice.

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Durability and recovery

Every accepted order enters an authoritative append-only journal before Edel acknowledges the order as durable. A hot standby in a separate failure domain replicates the journal under a conservative acknowledgement policy. After an interruption, Edel recovers by replaying the journal. The persistor can carry journaled history to the read side after durable acknowledgement and outside the order path. Query projections support lookups but never authorize financial state. Realtime streams follow journaled outcomes. In another failure domain, replay can restore the replicated order book from replicated journal evidence.

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Settlement and custody

Settlement finality lives on Canton, where confirmed Canton evidence remains authoritative. DFNS provides a separate collateral-custody key for each user, and users sign their own withdrawals. This keeps user-controlled custody actions separate from query views. The authority boundary is deliberate. Query projections can present journal and Canton evidence, but they cannot replace either source.

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Market operation

Crypto markets trade continuously. Equity-backed markets follow the underlying exchange calendar and close with it. A runtime kill switch can halt the venue. Kill-switch actions are audited and require dual approval.

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Public interfaces

Integrators can connect through REST v1, a CCXT-shaped v2, and realtime streams.