Markets, lesson 12
Queue position and fees
Your place in line and the fee schedule decide which fills pay.
You know price-time priority, that adding size to an order sends it to the back, and that informed traders cost a market maker money.
Part 1. Wait in line
You post a one-lot bid at 99.99, behind other bids already waiting there. Send it and see how it ends.
Your place in lineLive
Part 2. Why the back is worse
Keep going with Pro
You've done the first part. Pro opens the rest of this lesson, and every other one.
Still to come
- Why the back is worse
- Fees decide who posts
- A worked problem
- The same thing, for real
Markets overviewSpotted a mistake? Tell us.