Edel separates order processing, recovery, and settlement so integrators can evaluate each trust boundary.

​
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.

​
Durability and recovery

Every accepted order enters an 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.

​
Settlement and custody

Settlement finality lives on Canton. DFNS provides a separate collateral-custody key for each user, and users sign their own withdrawals.

​
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.

​
Public interfaces

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