2 ms·
1) You only get to see and make a potential buy/bid for last hour's bid/asks, only. 2) The system itself resolves it. Either it prevents you from making a buy/
by zo1 9y ago
1) You only get to see and make a potential buy/bid for last hour's bid/asks, only.
2) The system itself resolves it. Either it prevents you from making a buy/bid for something that was already "fulfilled" (though this would leak information). Or it accepts them sequentially, and refunds you at the end of the hour.
3) We're not taking that away from you. We'd be taking it away from everyone. You are welcome to see last hour's trades and try trade on it.
Additional points:
2) Another option. If your order didn't make it, the system can simply let it "stay" on on the system to be fulfilled in the future. If someone wants to take you up on the offer you made, they'll do it in the next hour, or any subsequent hour.
- harryh 9y ago1) Yes, but as I've said elsewhere there is a lot of information in the world other than the last hour's orders (why do people always forget this?) 2A) Preventing unmatched bids/asks will not work. Remember that you are starting at zero. All bids/asks are unmatched when you start with an empty order book. If you relax this some then yes you will leak and you are back to where you started. 2B) If you handle things sequentially then you have reintroduced a speed imperative. I, again, have an incentive to go fast to get first in line. 3) Yes, of course you are taking it away from everyone, but that matters more to me (an unsophisticated guy with no real time market research) than it does to BIG_HEDGE_FUND_GUY who does have such things and can, more easily, figure out what the market price should be without the help of the market. You are putting me at a disadvantage and him at an advantage. Is that really your goal?