Price priority is the fundamental order matching rule applied by stock exchanges, where orders offering the best price are executed first. For buy orders, the highest-priced bid has priority; for sell orders, the lowest-priced ask is matched first. When multiple orders are placed at the same price, time priority (first-come, first-served) is applied as a tiebreaker. NSE and BSE both operate on strict price-time priority rules within their electronic order matching systems, ensuring a fair and transparent execution environment where investors who offer the most competitive prices are rewarded with the fastest and most assured execution.
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