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A comment on How Exchanges Turn Order Books into Distributed Logs. Parent comment

Re:How Exchanges Turn Order Books into Distributed Logs by Workaccount2 on Saturday December 13, 2025 @11:36AM (#46255823)
This is what should happen, because what the game actually being played is to profit off those who cannot react fast enough to news event, rather than profit off those who mispriced their order.

Or leave things in place, but put a 1 minute transaction freeze during binary events, and fill the order book during that time with no regard for when an order was placed, just random allocation of order fills coming out of the 1 minute pause.

These funds would lose their shit if they had to go back to knowledge being the only edge rather than speed and knowledge.

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Re:How Exchanges Turn Order Books into Distributed Logs by neonbrain on Saturday December 13, 2025 @02:58PM (#46257443)
This isn't a good approach because it assumes there are no market makers on trading venues, and that they (as well as exchanges) do not compete for order flow. Also, maybe you haven't noticed, but stocks are often frozen during news announcements by regulatory request, so such pauses are already in place and are designed to maintain market integrity, not disrupt it with arbitrary fills.
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