Order matching system

A common example when a matching system is used in auction state is at the market open when a number of orders have built up.

Electronic order matching was introduced in the early 1980s in the United States to supplement open outcry trading.

The trading mechanism on electronic exchanges is an important component that has a great impact on the efficiency and liquidity of financial markets.

The choice of matching algorithm is an important part of the trading mechanism.

However, if the market price decreases, they will likely be able to sell to the limit order trader, for only a one cent loss.