InvestorQ : How does the trading system for futures and options work?
Chandralekha Desai made post

How does the trading system for futures and options work?

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3 years ago
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The Futures and Options Trading System provides a fully automated trading environment for screen-based, floor-less trading on a nationwide basis and an online monitoring and surveillance mechanism. The system supports an order-driven market and provides complete transparency of trading operations.
Orders, as and when they are received, are first time-stamped and then immediately processed for a potential match. The time stamp is for the purpose of deciding on priority. If a match is not found, then the orders are stored in different 'books'. Orders are stored in price-time priority in various books in the following sequence: Best Price, Within Price, by time priority.
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