I got the gusher oil project, and I seem not to understand it, though I have carefully read the specifications. my main doubt is whether they want me to design an exchange system or they want me to design a system which would integrate with an already present exchange. Can anyone please clarify?
No one can answer for you ...
You're free to make the assumptions necessary for the direction and complete your assignment ... My tip for you is: make assumptions that do not increase your work.
Based on that I would opt for the system Which design would integrate with an Already present exchange ... or you would like to deliver two systems in your assignment?