Order Types

Order Types and Management

ADEN supports a variety of order types to accommodate diverse trading strategies, enabling users to select the most suitable execution method.

Order Types

Market Order

• Description: An order to buy or sell immediately at the best available market price.

• Features:

  • Ensures rapid execution but does not guarantee a specific price.

  • May experience slippage (a difference between the expected and actual execution price) during high volatility or low liquidity.

• Operation:

  • No price input required; the system displays the “best market price.”

  • Users specify the order quantity and leverage to place the order.

Limit Order

• Description: An order to buy or sell at a specified price or better, executed only when the market reaches the designated price.

• Features:

  • Offers precise control over the execution price but does not guarantee execution.

• Operation:

  • Users manually input the price and quantity.

  • Alternatively, users can click the “BBO” (Best Bid/Offer) button to auto-populate the best buy or sell price or select a price directly from the order book.

Advanced Limit Order

• Description: A limit order with additional execution conditions for enhanced flexibility.

• Conditions:

  • GTC (Good Till Cancelled): Remains active until fully executed or manually cancelled.

  • IOC (Immediate or Cancel): Attempts immediate execution; any unexecuted portion is cancelled and not added to the order book.

  • FOK (Fill or Kill): Must be fully executed immediately, or the entire order is cancelled.

  • Post Only: Ensures the order is added to the order book as a maker order. If it would execute immediately, the order is cancelled, securing maker fee rebates.

• Operation: Users specify the price, quantity, and desired condition when placing the order.

Order Management

• Overview:

  • Users can view all open orders and established positions on the “Current Orders” or “Positions” pages.

• Viewing and Filtering:

  • Orders can be filtered and sorted by trading pair, order type, status, and other criteria.

• Modifying and Cancelling:

  • Open limit orders, conditional orders, etc., can be modified (price or quantity) or cancelled directly.

• Closing Positions:

  • Users can manually close positions fully or partially as needed.