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Quantitative Finance · Glosario

¿Qué es Locked and crossed markets?

También llamado: locked market · crossed market

Definition 8.3 Microstructure and Execution · Capítulo 8 — Fragmentation and Routing

The market is locked when the best bid on one venue equals the best offer on another, and crossed when it is higher. Neither can happen within one book, whose matching engine would trade the two; across venues each book sees only itself.

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