Time priority of limit orders

You post a limit order on ISLAND.

After a while you post another limit order on IEX at the same limit price.

The time priority of the first limit order only applies to ISLAND and the time priority of the second limit order only applies to IEX. In other words, the IEX limit order can execute before the ISLAND limit order despite being posted last.

Correct?

 

Correct.

 

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Fun to plan + profit on limit orders.Market orders in very liquid markets work well= i would not have any system or plan based only on limit order executions, even though i use them