A limit order is an instruction to trade only at a specified price or better. It rests in the order book until it is filled, cancelled or expires, and while resting it is visible to other participants.
market microstructure · updated 2026-09-08
See also
Market order— A market order is an instruction to trade immediately at whatever prices are available, consuming resting liquidity until it is fi…
Resting order— A resting order is a limit order sitting unexecuted in the order book, visible to other participants and available to be traded ag…
Order book— The order book is the live list of all outstanding buy and sell orders for an instrument, arranged by price, that a trading venue …