> You can't garauntee your (bid/ask) resting orders are executed against in the same epsilonic time window, nor would you want to

Of course you can. This is the entire thesis with which HFT beat out old-school market makers in securities.

I think you maybe have some misunderstandings around the practicalities limit orders and market microstructure (not withstand some theoretical model of risk free market-making, which has broadly been superseded, if you care about the theory at all).

> you maybe have some misunderstandings around the practicalities limit orders and market microstructure

Perhaps. I haven’t been on a market-making desk for close to a decade now.

But to correct one misconception in your comment, market makers don’t commonly use limit orders. (You’d submit a quote and try to hit rebates.)

How are quotes different from limit orders? [Edit: apart from the originator, I mean.]

> But to correct one misconception in your comment, market makers don’t commonly use limit orders. (You’d submit a quote and try to hit rebates.)

They do in the asset classes I work with, YMMV