{"id":"stock-exchange-price-time-priority","text":"The stock exchange implements standard price-time priority matching: incoming orders match aggressively against the best resting price, FIFO within each price level via deque ordering, with trades always executing at the resting order's price.","truth_value":"IN","source":"","source_url":"","source_hash":"","justifications":[{"type":"SL","antecedents":["stock-exchange-aggressive-then-rest","stock-exchange-fifo-matching","stock-exchange-resting-price-execution"],"outlist":[],"label":"Three beliefs compose into the canonical exchange matching semantic — aggressive-first + price-level FIFO + maker-price execution"}],"dependents":["stock-exchange-matching-produces-valid-trades"],"metadata":{"last_reviewed":"2026-06-06T06:26:57","review_result":"pass"},"created_at":"","updated_at":"","reviewed_at":"","verified_at":"","retracted_at":"","explanation":{"steps":[{"node":"stock-exchange-price-time-priority","truth_value":"IN","reason":"SL justification valid","antecedents":["stock-exchange-aggressive-then-rest","stock-exchange-fifo-matching","stock-exchange-resting-price-execution"],"label":"Three beliefs compose into the canonical exchange matching semantic — aggressive-first + price-level FIFO + maker-price execution"},{"node":"stock-exchange-aggressive-then-rest","truth_value":"IN","reason":"premise"},{"node":"stock-exchange-fifo-matching","truth_value":"IN","reason":"premise"},{"node":"stock-exchange-resting-price-execution","truth_value":"IN","reason":"premise"}]}}