easy · Market Microstructure lob
In a market with a Maker-Taker fee model and FIFO priority, which trader is most likely to receive a 'rebate' for their trade?
- A trader who cancels their resting order before it ever gets a chance to be filled.
- A trader who uses an aggressive IOC order to sweep liquidity across the visible book.
- A trader whose resting limit order was filled by an incoming market order.
- A trader who simply submits a plain market order to buy or sell shares.
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