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It works exactly like an order book at an exchange except there are only market orders (no limit orders).
by pbreit 13y ago
It works exactly like an order book at an exchange except there are only market orders (no limit orders).
- nhaehnle 13y agoBut - at least to my understanding - this means that it doesn't work at all like an exchange, because at an exchange, the price at which market orders execute ultimately comes from the limit orders in the same market. If there are no limit orders, then where does the price come from?