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Re:Building an exchange with transactional mealy machines by jamii on Wednesday March 16, 2011 @12:26PM (#2332666)
I've had a couple of people recently ask me about the exchange software about Smarkets so I wrote about one of the systems I still remember. I've poked the Smarkets team about writing more technical articles. I also just noticed that their web framework is now on github: https://github.com/skarab/smak
Re:Building an exchange with transactional mealy machines by amcl on Sunday March 20, 2011 @10:20AM (#2346311)
Nice overview, thank you for sharing.

Besides this article, jamii's comment below provides more context of the system.

http://news.ycombinator.com/item?id=2328220