There was ~$107 billion in online advertising in 2018. There was ~$145 billion traded in Nasdaq listed equities yesterday.
Global financial markets and online advertising have different requirements.
[0] https://www.marketingcharts.com/advertising-trends/spending-...
[1] http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummar...
That is a pointless comparison. That $107b was all revenue for somebody (Google, Facebook, etc), while the $145b was just the nominal value of shares traded.
(edited typo)
I was highlighting the difference between online advertising and financial markets. They operate at different scales.
> That $107b was all revenue for somebody (Google, Facebook, etc), while the $145b was just the nominal value of shares traded.
These are cash instruments, not derivatives, so that is indeed $145b of cash changing hands each day.
That is to say there is no tech reason that financial exchanges couldn’t run auctions.
Aside: personally I think that continuous exchanges are great & people who have problems with them usually don’t know what they are talking about.