What order types are on the OSL Exchange?
Market order
An order with no limit price. It will match as much as possible immediately executing, starting at the best price available on the opposite side of the order book. Any remaining unfilled quantity will be withdrawn. A market order may also sweep through multiple price levels.
Limit order
An order for a specified quantity of a traded product at a limiting price. The system will match as much of the order as possible, with any remaining balance entered into the order book at the order’s limit price. An incoming limit order may ‘sweep’ through multiple prices on the opposite side of the order book, as long as those prices are better than or equal to the limit price of the incoming order. Your limit orders will remain open and pending, unless manually cancelled.
Fill And Kill (FAK)
Order requires all or part of the order to be executed immediately or it will be withdrawn. When an FAK order is placed to the system, the order engine will attempt to execute it according to the order specifications. If the order cannot be executed or can only be partially matched, the system will automatically withdraw the order or the unexecuted part of the order.
An order with no limit price. It will match as much as possible immediately executing, starting at the best price available on the opposite side of the order book. Any remaining unfilled quantity will be withdrawn. A market order may also sweep through multiple price levels.
Limit order
An order for a specified quantity of a traded product at a limiting price. The system will match as much of the order as possible, with any remaining balance entered into the order book at the order’s limit price. An incoming limit order may ‘sweep’ through multiple prices on the opposite side of the order book, as long as those prices are better than or equal to the limit price of the incoming order. Your limit orders will remain open and pending, unless manually cancelled.
Fill And Kill (FAK)
Order requires all or part of the order to be executed immediately or it will be withdrawn. When an FAK order is placed to the system, the order engine will attempt to execute it according to the order specifications. If the order cannot be executed or can only be partially matched, the system will automatically withdraw the order or the unexecuted part of the order.
Updated on: 21/06/2023
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