[kasey_junk]

As I mentioned in another comment without serious protections against it your exchange is going to bias very strongly towards many many single quantity orders (they can't be filled partially after all) and stacked orders around your last trade price.

You also are going to lose lots of large volume orders because most large order investors are less sensitive about price than they are about fill certainty.

That said the more I think about it, the more I think algo shops would love your exchange because price discovery would be so hard. When price discovery is hard there are more opportunities for the "smart" money.