Orders

You trade on STX by placing buy or sell orders on a market, using available funds in your account. When your order is matched by another member’s order at the same price on the opposite side, a trade occurs.

• Order book: the orders currently outstanding on a market, grouped by price. It shows the quantity available at each price and the best bid and ask. See Prices and liquidity.
• Limit order: an order to buy or sell a set number of contracts at a limit price or better. See How to place a limit order.
• Maker order: an order that rests on the order book when it is placed because no existing order matches it.
• Taker order: an order that matches one or more orders already on the order book, so it executes when it is placed.
• Open order: an order, or the unexecuted part of one, that is on the order book and can still be matched.
• Filled order: an order that has been matched in full.
• Partially filled order: an order that has been matched in part. The remaining quantity stays open and can be canceled; the matched part cannot be canceled.
• Closed order: an order that has been filled, or canceled before it was matched, including when the market expires before it is matched. Canceling an order releases the funds held for it to your available balance.

Fees for maker and taker orders are in the Fee Schedule.