{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,16]],"date-time":"2026-08-16T16:31:37Z","timestamp":1786897897272,"version":"build-2736575974"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>The continuous limit order book allocates queue position by arrival time, generating socially wasteful speed investment (Biais, Foucault, and Moinas 2015). We parameterize the allocation rule by a throttle parameter \u03c4 (timestamp bucket width) and show theoretically that the speed advantage is non-monotonic in \u03c4: small buckets amplify speed rents by disrupting intermediate competition, while buckets in a critical zone \u03c4* \u2248 10-50ms eliminate them. We test this prediction with eight queue allocation mechanisms and a continuous \u03c4 sweep across 12 values on a controlled dual-engine exchange (~60,000 fills per mechanism). The non-monotonicity is confirmed: \u03c4 = 100\u00b5s amplifies the speed gap to-2.07 ticks (worse than CLOB's-0.65), while \u03c4 = 50ms reverses it to +1.12 ticks. Per-participant randomization achieves +132.8% reduction. All |Cohen's d| &amp;lt; 0.05, confirming preserved market quality. We estimate upper-bound deadweight loss elimination of 52-68% of equilibrium speed investment. Age-weighted randomization amplifies speed rents by 80.7%, demonstrating that intuitive mechanism properties can produce counterintuitive outcomes under strategic behavior. Throttled time priority at 50ms is the policy sweet spot: a one-parameter change eliminating speed rents without architectural modification.<\/jats:p>","DOI":"10.2139\/ssrn.6578978","type":"posted-content","created":{"date-parts":[[2026,4,20]],"date-time":"2026-04-20T16:22:42Z","timestamp":1776702162000},"source":"Crossref","is-referenced-by-count":0,"title":["Beyond Time Priority: A Taxonomy of Queue Allocation Mechanisms in Continuous Limit Order Books"],"prefix":"10.2139","author":[{"ORCID":"https:\/\/orcid.org\/0009-0005-8477-9393","authenticated-orcid":true,"given":"Boon Chuan","family":"Lim","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,8,16]],"date-time":"2026-08-16T15:51:49Z","timestamp":1786895509000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=6578978"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.6578978","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}