Orderbook

The Orderbook is a list of pending buy and sell orders organized by price.

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Orderbook Structure

The Orderbook consists of two sections:

Section	Color	Description
Bid	Green	Orders to buy at this price
Ask	Red	Orders to sell at this price

Price Level Example

Ask (Sell)              Quantity
$0.720                  50
$0.710                  120
$0.700                  200    ← Best Ask (lowest price sellers will accept)
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$0.690                  180    ← Best Bid (highest price buyers will offer)
$0.680                  90
$0.670                  40
Bid (Buy)               Quantity

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Key Concepts

Spread

The difference between the Best Ask and the Best Bid.

Spread = Best Ask - Best Bid
Example above: $0.700 - $0.690 = $0.010

Price Increment

Prices on the Orderbook are displayed in $0.001 increments.

Quantity

The number of Shares pending at each price level.

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Matching Mechanics

• Market Order: Fills immediately starting from the best price. If quantity exceeds the best level, fills continue at the next levels.

• Limit Order: Matches immediately if the price is more favorable than the market (Taker), otherwise posted to the Orderbook (Maker).

For details, see Order Types.