Order Types

Orders are instructions to buy or sell assets at specified conditions. They define what, when, and how trades should execute on the exchange.

Nexus supports a diverse range of order types and configurations:

• Market: Executes immediately against resting liquidity; any unfilled size is canceled.

• Limit: Placed at a specific price and stays on the order book until filled or cancelled. Filled at selected limit price or better

  • GTD (Good-Till-Date): Stays live until the chosen expiry or when the order fills.

  • IOC (Immediate-or-Cancel): Fills what it can instantly, cancels the rest.

• Stop:

  • Stop Market: A market order that is executed at the best market price when mark price reaches selected market price

  • Stop Limit: A limit order that is only executed at selected limit price after mark price reaches selected trigger price.

• Market close orders: Automatically-size to fully close your current position, canceling any resting or untriggered orders before closing automatically.

• Reduce-only orders: Ensures the order can only decrease your current open position size.

  • Limit: Limit reduce-only orders automatically adjust if a subsequent order reduces your current position