Price-time priority

From MarketsWiki
Revision as of 18:10, 2 August 2019 by JohnJLothian (talk | contribs)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

DRW logo RGB.png

The principle of price/time priority refers to how orders are prioritized for execution. Orders are first ranked according to their price; orders of the same price are then ranked depending on when they were entered.[1]

Unlike the pro-rata model, in which orders go to specialists first, in a price/time priority model, dealers have few special privileges.