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Matching Algorithm - Operating On FIFO Basis

Orders are filled according to the price and time of the acceptance by the trading system.

Here are some details:

When the quantity of the order is increased and if there are other orders at the same price at the time of the increase, it is treated as a new order. It is preferable to issue a new order for the additional quantity instead of increasing the existing one so that the time priority for the initial quantity is retained.

When the quantity of the order is decreased, it retains its priority in the system.

Hidden quantities are time-stamped when they appear.

A stop order is time-stamped when triggered.

The modification of the account number does not change the order's priority.

The modification of the validation date does not change the order's priority.

There is no other priority than FIFO on a price/time basis.

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