Privacy
The order book is public. The traders are not. What anyone can see on Titan, and what only you can see.
The book is public. The traders are not.
Titan runs a lit order book: anyone can see the prices and sizes resting on it, and every trade is printed on a public tape. That is what makes prices fair and liquidity visible. What nobody else can see is who: which orders are yours, what you traded, what you hold.
| Anyone can see | Only you can see |
|---|---|
| The order book: price levels, size and number of orders at each | Which orders are yours |
| Best bid and ask | Your orders, modifications and cancels |
| The trade tape: price, size, side and time of each trade | Your fills, fees and funding |
| Candles, volume footprint and market statistics | Your balance, positions and profit and loss |
| Mark price and funding rate | Your liquidations |
| One manifest per cycle on the ledger | Your deposits and withdrawals |
| Your session keys, linked credentials and social handles |
Trade tape
What each public trade shows, and what it leaves out.
On the ledger
What the public can read on Canton, and what only you and Titan can.
What your proof reveals
Verifying your history tells you nothing about anyone else's.
Who can see more
Titan runs the engine, so it sees orders and accounts in order to operate them. Privacy here means privacy from other traders and the public. The auditor receives the full leaves behind each root so it can check the exchange; it sees accounts by their ledger identity, not by name.