3 ms·
There already is an auction. It happens once per stock market tick. You don't trade with the first buyer or seller that comes along you trade with the buyer or
by harryh 13y ago
There already is an auction. It happens once per stock market tick.
You don't trade with the first buyer or seller that comes along you trade with the buyer or seller that submits the best price. If a whole bunch of them submit the same price you trade with the one that does it first (hence all the effort HFTs put into moving faster).