What Is An Exchange Matching Engine? Databento Microstructure Information
CME Globex employs algorithms like FIFO (First In, First Out), Pro Rata, and LMM (Lead Market Maker) to allocate trades primarily based on market situations. This flexibility allows the platform to adapt its methods for several types of contracts. For example, the route between Tokyo and Hong Kong is about 2.5 times longer than the trail between Ny and Chicago, creating unique latency challenges for Asian markets. Beyond physical location,...