The Law Dictionary

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DOUBLE AUCTION MARKET Definition & Legal Meaning

Definition & Citations:

An AUCTION MARKET featuring multiple sellers and buyers, who have full transparency into dealings. In the double auction process the first BID or OFFER is given priority, the high bid and low offer take precedence, and a new auction begins when all bids and offers at a given price are successfully matched. Certain stock EXCHANGES use a form of the double auction to match buyers and sellers.

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