Care to link to a major equity exchange's product page and/or sec declaration that details exactly how this works (ie, criteria for getting "first dibs", what t

Care to link to a major equity exchange's product page and/or sec declaration that details exactly how this works (ie, criteria for getting "first dibs", what that actually means etc)? Or are you talking about exchange hosting, where you get lower latency if you pay more to colocate?