On: Quants and the crash

[shasta]

Can someone explain why trades are done continuously in real time? Wouldn't it make more sense to have a turn-based exchange with a turn of one minute or an hour?

[ramchip → shasta]

What do you do if 10 people try to buy a stock at a certain price when there is only one on sale?

[shasta → ramchip]

Lots of possibilities, but the simplest way to modify our existing sysyem is probably to process requests in random order within a turn.