3 ms·
At equal prices, random selection. Anything else seems like it could be games. Could lead to some funny movements though. Value aliasing! : )
by a-dub 11y ago
At equal prices, random selection. Anything else seems like it could be games.
Could lead to some funny movements though. Value aliasing! : )
- kasey_junk 11y agoIf you think time priority orders are viewed as unfair, think what random matching would mean. It would mean that you could put in an order 6 months ago and watch it repeatedly never get filled as your price point was hit over and over again.
- harryh 11y agoSo lets say at tick one 1 see that only 50% of the buy orders were filled. At tick 2 I want to buy 100 shares. But maybe I'll guess that only 50% will be filled this tick too, so maybe I should submit a buy order for 200 shares instead? This kind of game playing can lead to highly unstable outcomes.