Order book matching is the automated process by which an exchange system pairs buy orders with corresponding sell orders based on price and time priority. This mechanism is central to how traditional and many centralized digital asset exchanges execute trades. It ensures efficient and fair transaction settlement.
Context
The efficiency and fairness of order book matching algorithms are critical for maintaining equitable trading conditions on digital asset exchanges. Discussions often involve concerns about front-running, latency advantages, and the impact of high-frequency trading strategies on order execution. Regulatory oversight aims to ensure transparent and non-discriminatory matching processes.
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