Type and Time-In-Force

The Type and Time-In-Force properties of an order added to the Chronicle Matching Engine primarily determine how it behaves. The table below lists the main order type options:

Simple Order Types

Type	Comments
Market	Executes at best until matching stops. Any remainder is expired
Limit	Executes at or better than the price specified on the order. Any remainder is added to the order book or expired based on the specified Time-In-Force

Advanced Order Types

Type	Comments
Stop	Executes at best until matching stops. Any remainder is expired
Stop Limit	Executes at or better than the price specified on the order. Any remainder is added to the order book or expired based on the specified Time-In-Force
Iceberg	An order which has both a Quantity and a (smaller) Disclosed Quantity. Only the Disclosed property is added to/displayed on the order book. Once the displayed quantity reduces to 0 the order is replenished by the system up to the minimum of the Disclosed and Remaining Quantity
Hidden	A fully hidden order which is active on the book, but with no displayed quantity
Pegged	A hidden order pegged to some mid point (e.g. best bid, offer)

Time-In-Force Options

Type	Comments
Day	Expires at end of current trading day
Immediate or Cancel (IOC)	Executed on receipt. Any remainder is immediately expired
Fill or Kill (FOK)	FOK (Fill or Kill) Fully executed on receipt, or immediately expired
Good Till Time (GTT)	Expires at a specified time (UTC, second resolution)
Good Till Date (GTD)	Expires at the end of specified trading day (local calendar)