FIFO Queueing

FIFO or First-In-First-Out is a fundamental order matching rule where orders are executed in the exact sequence they are received by the engine. This provides a fair and transparent method for managing the order book, ensuring that earlier participants receive priority over later ones at the same price level.

In high-volume derivative markets, FIFO is the standard for maintaining order book integrity and predictability. It prevents front-running by the system itself and allows market participants to understand their position in the queue.

This structure is vital for market microstructure stability and trader confidence.