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The options market is bifurcated into markets in relationships that are primarily centered around payment for order flow, and then there's the more transparent, fewer time, price, priority maker/taker market structure.
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I am not aware of any rules that give priority to rapid-fire orders; most markets are "time-price priority" and make no differentiation from whence the orders come.
Another way that competition could have gone would have been a strict time-price priority, in which the exchange that first posted a price would get the first order at that price.
It would protect the investors or dealers who first enter the best available quote by requiring that their order be filled before any others -- a concept known as time-price priority.
And then the other model is just for simple terms, we'll call it the maker-taker, the time-price priority model, where it trades just like the equity world.
Thus, users have to plan the use of energy (time of use, pricing, priority loads, dynamic pricing, etc).
What price, what priority, do we attach to the right of every human being to sufficient food?
Some companies that might have been pinched by higher energy prices in the past have made shielding themselves from the recent increase in oil prices a priority, illustrating some of the nation's energy-efficiency gains.
The American public loved the big vehicles, which were affordable because national energy policy made low gasoline prices a priority.
A renewable-energy law passed in 2000 promised 20 years of guaranteed prices and priority access to the power grid for anyone who installed wind, solar or other renewable sources.
Orders submitted that are not instantaneously executed are stored in the book according to a strict price-time priority rule.
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