Built from scratch. Operated fully in-house.

Every core component of the Smarkets platform, from matching engine and market maker to risk systems and frontends, is designed, built, and operated in-house.

<100ms
order-to-confirmation latency
$60B
lifetime volume processed
100%
in-house tech stack
45%
of the team in engineering and technical roles

Core systems

Four interconnected systems that power every trade on the platform.

Matching engine

The heart of the exchange. Written in Rust for performance and memory safety. It processes orders with sub-100ms end-to-end latency, supports thousands of concurrent markets across multiple event categories, and maintains price-time priority. Designed for correctness first, speed second, because in financial systems, getting the answer wrong fast is worse than getting it right slowly.

Market maker

Our proprietary market-making system provides continuous liquidity across thousands of markets simultaneously. It quotes competitive two-way prices, manages inventory risk in real-time, and adapts to market conditions.

Risk system

Every trade, every position, every customer balance is monitored in real-time. The risk system enforces exposure limits and monitors for anomalous trading patterns across all markets. It's integrated directly into the matching engine, risk checks happen pre-trade, not after the fact.

Payments & settlement

Our payments and settlement systems support deposits, withdrawals, and market settlement across five jurisdictions with different regulatory requirements. Built to handle the complexity of multi-currency, multi-regulator operations without manual intervention. Balances and settlement are tracked in real time.

How it fits together

Three products, one architecture. SBK serves retail customers, the exchange serves more active traders, and the market maker provides pricing and liquidity across both.

Liquidity layer
Proprietary market maker
↓
Client execution layer
SBK (retail) Smarkets Exchange (professional) Payments & Compliance Risk System
↓
Orderbook layer
Matching Engine API

Stack

Built on an open-source Linux stack, with room to keep improving the tooling.

Core

Rust logoRust Python logoPython PostgreSQL logoPostgreSQL

Frontend

React logoReact React Native logoReact Native TypeScript logoTypeScript

Infrastructure

Apache Kafka logoKafka Docker logoDocker AWS logoAWS

Data

Real-time streaming Internal analytics Machine-learning-driven pricing

Build with us

Nearly half the team write code. If you want to work on systems where correctness and latency both matter, see our engineering roles.

View engineering roles →