Which statements regarding on book matching are correct?

The statement regarding product-specific allocation methods applying in continuous trading is accurate because, in continuous trading, allocation methods can vary between different products based on their specific characteristics. This allows for better handling of orders and ensures that the unique aspects of each product are considered during the matching process. For instance, futures and options may have different mechanisms for order matching depending on their market dynamics, liquidity, and participant behavior; thus, a tailored approach is essential.

On the other hand, other statements do have important aspects pertaining to trading but might not accurately reflect the rules governing on-book matching. Price/time priority, for instance, is a relevant principle but may not apply uniformly across all products in a trading environment. Auctions typically have their own distinct rules regarding order accumulation and visibility, which differ from continuous trading processes. Additionally, while the principle of maximum volume execution is relevant, it specifically pertains to auction contexts rather than the broader continuous trading settings.