No, the idea is that orders are batched up and then crossed in an auction every second. You literally gain no advantage from being a millisecond (or several) ah

No, the idea is that orders are batched up and then crossed in an auction every second. You literally gain no advantage from being a millisecond (or several) ahead of somebody else as long as you're within a given second. It's kind of like an opening cross, happening like a metronome every second of the day. (They also do these or similar crosses when a stock restarts after a halt, or during an IPO.) Probably there would be some attempt to game the system by measuring open interest on either side up until the time the cross operates (i.e. when one second 'ticks' into the next). If such numbers were made available.