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The following order types are currently supported on Calabi:
  • Market: An order that executes immediately at the best available market price.
  • Limit: An order that executes at either the specified limit price or better. Depending on the Time-In-Force selected, it may rest on the book until filled or be partially/fully cancelled
more advanced order types coming soon…

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Time in Force

Time-in-force options allow users specify the lifetime of an order.
  • Good ‘Til Cancelled (GTC): the order rests on the book until it is filled or cancelled
  • Post Only: the order is only added to the book if it can executed as a resting order otherwise it is cancelled i.e it doesn’t match immediately. Also known as “Add Liquidity Only (ALO)” on other venues
  • Immediate-or-Cancel (IOC): the order is filled immediately against liquidity on the book and any unfilled remainder is cancelled. These orders are never placed as market orders
  • Fill-or-Kill (FOK): similar to IOC, but the entire order must be filled entirely in a single matching cycle or the entire order is rejected.

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Reduce Only

This ensures an order can only ever decrease or close an existing position. Any excess size that would result in the position to be flipped is cancelled by the Matching Engine.