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Matched and Lost |
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Matched and lost The outcome of the flip of a coin used to determine which of two brokers who are locked in competition for equal trades may actually execute the trades. Matched and Lost A broker's report to a client that an order was not executed because another order with equal priority was executed instead. When an order is made, a broker seeks to match and execute it with an equal but opposite order. If two orders are made at the same time with the same price and are competing to be executed, they have equal priority. Brokers then flip a coin to determine which order is executed. The losing broker makes the matched and lost report to the client.
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