I often read small one-liners here and there about circuit-breakers or IPO pipeline mechanics, but I have not found a comprehensive guide that unpacks all the moving parts of an exchange or its immediate ecosystem. Particularly interesting would be a quick historical backdrop for some of the major items (i.e. circuit breakers first introduced in 1987 from a crash). Or even a cross-geography comparison (i.e. Chinese exchanges have a maximum trade threshold, preventing the market from extreme up/downturns).
Some market pieces seemed to be for financial stability, others seem to be for efficiency / convenience (i.e. decimalization).
Is there an introductory-level book that has a large focus on market infrastructure / mechanics?
- By "market" I mean equity exchanges, but if that's too specific, we can include tangent industries: In the case of fund management, mechanisms like side-pocket accounts and fund gating come to mind.