Precedence

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Precedence

The established system of priorities of trades in an exchange. For example, the highest bid and lowest offer have highest precedence; the first bid or first offer at a price has highest priority, and large orders have priority over smaller orders.

Precedence

On an exchange, the succession in which floor traders must execute orders. Invariably, the orders with the highest bid or the lowest ask are executed first. If two orders have an identical price, the one entered first has precedence. The specific rules of precedence are set by each exchange individually.

precedence

The sequence in which orders are executed on an exchange floor. For example, the order with the lowest ask or highest bid has precedence over other orders. With orders at an identical price, the one entered earliest has precedence. The precedence of orders is established by the rules of each exchange.
References in periodicals archive ?
Johnson when asked to decide whether Derrick or Smart was the better poet, but without Johnson's recourse: "Sir, there is no settling the point of precedency between a louse and a flea.
For 2014 2018 period, Telekom Slovenije sanctioned its 2014 Group Business Plan and the Strategic Business Plan and also stated that in southeastern Europe, in the light of harsher macroeconomic conditions, the precedency hereafter remains revenue stabilization, lowering costs, and finding and implementing new services and business models.
Then he discoursed to me of the improvement of Gardens and buildings (now very rare in England, comparatively to other Countries) and then commanded me to draw-up the Matter of fact happning at the bloudy Encounter which then had newly happn'd between the French & Spanish Ambassador neere the Tower, at the reception of the sweds Ambassador contending for precedency.