<p>It depends on who posts the order first.</p>

<p>If Alice posts first a <code>sell</code> at 90, then Bob posts a <code>buy</code> at 110, Bob will <code>buy</code> from Alice at 90, and any excess will be posted as a <code>buy</code> at 110 (if he wanted to buy more than Alice sold).</p>

<p>If Bob posted first a <code>buy</code> at 110, then Alice posted a <code>sell</code> at 90, the opposite would happen: Alice would <code>sell</code> to Bob at 110, and any excess would be posted as a <code>sell</code> at 90 (if she wanted to sell more than Bob wanted to buy).</p>

CC BY-SA 3.0
2013-04-02T13:14:21.687Z
Thanks! Can you point me to a reference as well?
stanga
CC BY-SA 3.0
2013-04-02T13:52:31.863Z
@stanga there are plenty of resources explaining limit orders, but they don't address it _exactly_ your question, since they take it for granted. Wasn't able to find you one, sorry.
o0'.
CC BY-SA 3.0
2013-04-02T12:33:30.197Z
2013-04-02T12:33:30.197Z
o0'.
<p>Consider some exchange, e.g. Mt. Gox, with just two users, Alice and Bob. If Alice places a sale order limited above 90$, and Bob places a buy order limited below 110$, at what rate will the exchange take place?</p>

<exchanges><exchange-order>
Exchange rate of limit orders with a positive interval
stanga
# Exchange rate of limit orders with a positive interval

(Asked by: username_0 on 2013-04-02)

Consider some exchange, e.g. Mt. Gox, with just two users, Alice and Bob. If Alice places a sale order limited above 90$, and Bob places a buy order limited below 110$, at what rate will the exchange take place?

**Tags:** exchanges, exchange-order


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## 1 answers

### Answer by username_1 on 2013-04-02. Score: 3 | Accepted answer

It depends on who posts the order first.

If Alice posts first a `sell` at 90, then Bob posts a `buy` at 110, Bob will `buy` from Alice at 90, and any excess will be posted as a `buy` at 110 (if he wanted to buy more than Alice sold).

If Bob posted first a `buy` at 110, then Alice posted a `sell` at 90, the opposite would happen: Alice would `sell` to Bob at 110, and any excess would be posted as a `sell` at 90 (if she wanted to sell more than Bob wanted to buy).

> **Comments:**
> **username_0**: Thanks! Can you point me to a reference as well?  
> **username_1**: @username_0 there are plenty of resources explaining limit orders, but they don't address it _exactly_ your question, since they take it for granted. Wasn't able to find you one, sorry.  

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