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by whyhow
2139 days ago
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I think this could be fixed by making each job be posted for a fixed block of time, say five minutes. Then it is randomly assigned to one of the shoppers that selected that job. This would remove the incentive around reaction speed and I don't think the customer would care about the slightly increased time for an order. |
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Not for nothing, this is the same mechanism by which the "unfair" advantages of HFT practitioners can be defeated. Run mini-auctions every whole second and randomly allocate fills if there are ties for best bid and/or best offer.
Of course, as long as the exchanges deeply care about vanity metrics such as trading volume (trading volume !== liquidity) such measures will never be broadly enacted.