|“||are typified by anonymous, real-time matching of orders and quotes comparable to that which occurs on a traditional securities exchange. This pricing mechanism is ideal for commodities or commodity-like products.||”|
Such highly standardized products are traded constantly and may experience some volatility. An example of such an exchange is Currenex, a currency exchange that links banks and corporations.
- Entering the 21st Century: Competition Policy in the World of B2B Electronic Marketplaces, at 11 (footnotes omitted).