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Focusing on the interconnectedness of markets, technology and associated risks, this book begins by classifying the types of technologies that keep the financial industry and its vast services running. The book features a breakdown of the financial technology taxonomy, which includes an introduction to the definitions, standards, and classes of financial technology, for readers to base a set of criteria for categorizing technologies propelling the financial system. Written with contextual learningin mind, readers are given examples to implement in a financial environment and real data whenever applicable. Observing two main classes of technology, enterprise technology and systemic technology, the author demonstrates how large-scale systemic technology capitalizes on enterprise technology to find compatible solutions to the risk posed by technology inefficiencies. In this book, the author illustrates the architecture of how the system keeps up with evolving technology and explains concepts of adaptability through systemic self-organization. Market participants assume that the financial system technology is up to speed with the complexities of the financial world in which they operate, yet the Flash Crash of May 6, 2010 is one case study the author uses of a technology challenge. This large-scale crisis leads into the following chapters on reformulating technology roles and obligations of leading institutions to introduce ideas for avoiding systemic failure. Examples of these initiatives: Financial Products Markup Language (FpML); the Society for Worldwide Interbank Financial Telecommunication (SWIFT); and Algorithmic Contract Type Unified Standards (ACTUS), which is a product of the Dodd-Frank Act. This book makes the essential point of viewing financial system technology as a system of complex adaptive systems with evolving mechanisms, tools, and processes all enabled by fast moving technology. Chapter coverage also includes mathematical modeling, orders, algorithmic trading, and operating systems and languages.