Order Types

TurkDEX electronic trading platform features the following order types:

Market Orders
A market order does not specify a price, it is executed at the best possible price available. The buy order is executed at the lowest sell order, the sell order is executed at the highest buy order.

Limit Orders
The limit order is an order to buy or sell at a designated price. Limit orders to buy are placed below the current price while limit orders to sell are placed above the current price. Even though you may see the market touch a limit price several times, this does not guarantee or earn the customer a fill at that price.

On Close Orders
An order to buy or sell a stated amount of contracts at the settlement price determined at the end of the day. Once the settlement price is determined "on close orders" shall be matched with the pending "on close orders". After the "on close orders" pending at buy and sell sides are matched and remaining unfulfilled "on close orders" shall match with the normal session orders that meet the settlement price. On close orders may be sent to the system by using the order type called "passive (limit) order", and order duration called "session".

Other Order Types
In addition to the above mentioned order types, the trading platform of TurkDEX allows investors to use order types such as "Keep Remainer Orders", "Fill or Kill Orders", "Fill and Kill Orders", "Market Contingent Orders" (stop loss orders can be given by using this order type).

Investors may also specify the duration of their order by using "Session Order", "Day Orders", "Good-Till-Cancelled Orders" and "Good-Till Date Orders".