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Yes - the limit order book mechanism was designed as an automation of open outcry. It was not designed to cope with illusory liquidity from eg quote stuffing or
by osullivj 11y ago
Yes - the limit order book mechanism was designed as an automation of open outcry. It was not designed to cope with illusory liquidity from eg quote stuffing or market makers quoting away from top of book then pulling orders when TOB trades.