NASDAQ deploys a trading pit, almost

Financial News: The US-headquartered exchange operator said in a December 12 statement that it will introduce its Auction on Demand feature on June 7, 2017, following a period of testing that will begin on March 20.
FN reported on September 12 that Nasdaq had pushed back the launch of the service in a bid to "enhance" the trading model.

The new order book will be available to members trading shares on Nasdaq's markets in Stockholm, Copenhagen, Helsinki and Iceland and will offer an alternative to over-the-counter and so-called dark pool trading, Nasdaq said.–– ADVERTISEMENT ––

Auctions, which typically occur at the start and close of daily trading sessions, are being utilised by venues to facilitate the trading of larger blocks of shares. Under this form of trading, a high-speed trading firm's advantage is removed because orders are not matched on first-come-first-serve basis.Nasdaq wants Auction on Demand introduced in advance of the implementation of the EU's revised Markets in Financial Instruments Directive, a set of trading rules that will kick in on January 3, 2018.

The emphasis is mine.  Step one, dump the time stamp.  Step two, compress the bid/ask to keep the distribution in  balance/.  Take your fee in bit error or cycle prices.  Nasdaq got some of that, but not the wholet hing.  It is a start.