Well known? I suppose that depends on who you ask. Surely to anyone trying to get fills on more than 100 contracts at a time. It is public information and disclosed. See for example the LMM + FIFO rules section.
Retail? Probably not, but then again, how well known is order matching or even depth of market well known to the mom and pops of the world. Most of them don't even know that transactions are happening on fractions of a penny on the equity markets now.
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I'm impressed @MacroNinja, very few people seem to know about the CME Systems Wiki/EPIC/Confluence or whatever you want to call it. It's an excellent source of information, especially when you really start getting into the minutiae, something probably very few people here need to.
Since we're giving away all the secrets, along with the Matching Algorithm page, you will need to reference the "CME Globex Product Reference Sheet" which can be found on this page GCC Product Resources. This is the page which tells you which Matching Algorithm each product actually uses! Don't worry though, pretty much every liquid FUTURES product on Globex uses plain FIFO. The exceptions are most MGEX products, some Ag Products, some options, and most of the Interest Rate Products including Eurodollar/GE (the largest futures contract in the world that nobodies ever heard of) which uses Allocation rather than FIFO. The other piece of info I find exceedingly useful is in Column H.
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