- Limit Orders
- A limit order is the most common order type that is placed to trade at a certain price or at a better price if available, by specifying the issue, the quantity and the price. As the specified price means the limit at which the order can be matched, a bid limit order is executed only at or lower than the specified price and an ask limit order is executed only at or higher than the specified price.
- Market Orders
- A market order specifies the issue and quantity but not the price and intends to trade immediately at the best price currently available in the market. Therefore, in general, a market order is executed prior to limit orders with the best orders on the counter side in the order book based on price priority until all the specified quantity is matched.
- Limit-to-Market-on-Close Orders
- A limit-to-market-on-close order is an order that participates in the market as a limit order during the regular session, but has the condition to convert the remaining quantity into a market order at 15:20 when the quotation receiving hours begins for the market closing call auction.
- Immediately Executable Limit Orders
- This type of order is a limit order designating the limit price at the best available price on the counter side at the time of order placement, thus allowing the order to be executed immediately at the best price. That is, in case of an immediately executable limit order to sell, the highest bid price at the time the order is placed is the specified limit price and in case of an immediately executable limit order to buy, the lowest ask price at the time the order is placed is the specified limit price to be matched.
- Best Limit Orders
- A best limit order is a type of limit order designating the limit price at the best available price of the same side orders at the time the order is placed. In case of an ask order, the lowest ask price at the time the order is placed is the specified limit price and in case of a bid order, the highest bid price at the time the order is placed is the specified limit price.
- Target Price Orders
- A target price order is an order specifying the intention to trade at a target price such as the VWAP (Volume Weighted Average Price) which is to be determined later and giving members the discretion to match at prices as close as possible to the target price. However, as there is no separate type of order related to the target price, members need to split a target price order into multiple limit and market orders.
- Auction-based Block Trading Orders
- An order type where an investor specifies the issue and quantity and has the price matched at VWAP of the day. This is a type of block trading to minimize the market impact by block trading. There is a minimum quantity requirement and the trade is matched separately from the regular market without the trade details being disclosed. (For more details please refer to– “Auction-based Block Trading”)
- Midpoint Orders
- A midpoint order is a type of order executed at the arithmetic mean price between the best bid price and the best ask price on the KRX market. Amounts less than 1 KRW are rounded down when calculating the mid-price. The order is submitted without a specified price, with only the security issue and quantity defined. The execution price continuously adjusts in real time as the bid and ask prices change. Midpoint orders are not valid during single price auctions or when either the bid or ask price is unavailable. Their validity resumes during continuous auctions once both bid and ask prices are available.
- Stop-Limit Orders
- A stop-limit order specifies the issue, quantity, limit price, and a stop price. The order is activated and submitted at the specified limit price once the stock price reaches주의
the designated stop price.
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Sell Stop-Limit Order: Activated when the stock price is at or falls below the stop price.
Buy Stop-Limit Order: Activated when the stock price is at or rises above the stop price.