Reactive Intent Markets: a working paper on the submission format atomic settlement makes possible

Short summary

Atomic settlement removes the operational risk that forces participants to compress preferences into single price-quantity pairs. Reactive Intent Markets propose cryptographically-committed conditional intent functions revealing aggregate postures at clearing time. This captures higher-order information about market structure that conventional venues cannot observe.

• •Atomic settlement enables richer market participation mechanisms beyond single price-quantity compression
• •Participants submit conditional intent functions via cryptographic commitments, revealed only at clearing
• •Aggregate signed measures reveal market structure and collective beliefs that order books cannot

Generated with AI, which can make mistakes.