Engineering challenges for MM: latency, correctness, routing, inventory, observability

Top 5 engineering challenges every MM will face: (1) Tail latency blows up under bursts. (2) Book correctness breaks -- gaps, out-of-order deltas, stale snapshots, ... (3) Order routing isn't idempotent -- retries create ghosts or duplicates (4) Inventory drift turns spread capture into accidental direction. (5) No observability/replay -- can't see tails, can't reproduce incidents.

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