  The model of FCFS infinite bipartite matching was introduced in
caldentey-kaplan-weiss 2009. In this model there is a sequence of items that
are chosen i.i.d. from $\mathcal{C}=\{c_1,\ldots,c_I\}$ and an independent
sequence of items that are chosen i.i.d. from $\mathcal{S}=\{s_1,\ldots,s_J\}$,
and a bipartite compatibility graph $G$ between $\mathcal{C}$ and
$\mathcal{S}$. Items of the two sequences are matched according to the
compatibility graph, and the matching is FCFS, each item in the one sequence is
matched to the earliest compatible unmatched item in the other sequence. In
adan-weiss 2011 a Markov chain associated with the matching was analyzed, a
condition for stability was verified, a product form stationary distribution
was derived and the rates $r_{c_i,s_j}$ of matches between compatible types
$c_i$ and $s_j$ were calculated.
  In the current paper, we present several new results that unveil the
fundamental structure of the model. First, we provide a pathwise Loynes' type
construction which enables to prove the existence of a unique matching for the
model defined over all the integers. Second, we prove that the model is
dynamically reversible: we define an exchange transformation in which we
interchange the positions of each matched pair, and show that the items in the
resulting permuted sequences are again independent and i.i.d., and the matching
between them is FCFS in reversed time. Third, we obtain product form stationary
distributions of several new Markov chains associated with the model. As a by
product, we compute useful performance measures, for instance the link lengths
between matched items.

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