Jump to Subnavigation

Service Navigation

Combination of order types

Overview of order types

The following tables provide an overview of the order types that can be used for each trading model, distinguished by execution conditions as well as validity and trading restrictions.

Order types in the continuous trading model

Order typeMarket orderLimit orderStop orderIceberg orderTrailing stop, OCO
Execution conditions
Immediate-or-cancel

Y

Y

n/a

n/a

n/a

Fill-or-kill

Y

Y

n/a

n/a

n/a

Book-or-cancel

n/a

Y

n/a

n/a

n/a

Validity restrictions     
Good-for-day

Y

Y

Y

Y

Y

Good-till-date

Y

Y

Y

Y

Y

Good-till-cancelled

Y

Y

Y

Y

Y

Good-till-crossing/auction

n/a

n/a

n/a

VDO only

n/a

Trading restrictions     
Opening auction only

Y

Y

Y

n/a

n/a

Closing auction only

Y

Y

Y

n/a

n/a

Auction only

Y

Y

Y

n/a

n/a


Order types in the auction trading model

Order typeMarket orderLimit orderStop orderTrailing-stop, OCO
Execution conditions    
Immediate-or-cancel

n/a

n/a

n/a

n/a

Fill-or-kill

n/a

n/a

n/a

n/a

Book-or-cancel

n/a

n/a

n/a

n/a

Validity restrictions    
Good-for-day

Y

Y

Y

Y

Good-till-date

Y

Y

Y

Y

Good-till-cancelled    
Trading restrictions    
Opening auction only

Y

Y

Y

n/a

Closing auction only

Y

Y

Y

n/a

Auction only

Y

Y

Y

n/a


Further information

Xetra system documentation (“market model for the trading venue Xetra” is published under “overview and functionality” for each T7 release).

Related topics

Basic types
Further order types and quotes

© Deutsche Börse Cash Market

Market Status

XETR

-

-

Parts of the trading system are currently experiencing technical issues

The trading system is currently experiencing technical issues

Xetra newsboard

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Xetra webpage under Technology --> T7 trading architecture --> Emergency procedures. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.


Emergency procedures


An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.