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by yummyfajitas
5071 days ago
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You place a limit order to buy FOO at $32 Someone else offers FOO at $31.90 At this stage, the matching engine observes that you want to buy at $32, and someone is willing to sell at less than $32. You trade directly with that person at $32. It's actually illegal for any matching engine to match the $31.90 bid, they must cross trades at the NBBO. |
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