Live Order Book Trading

Equity-style trading (recommended)

• Limit Order — submit with price and quantity; update or cancel at any time; receive fills and execution reports for the session.
• Market Order — submit with quantity only; matched against the order book from best level down until filled or liquidity is exhausted. Only Limit Orders rest in the OpenYield order book.

Fixed income-style trading

We recommend implementing equity-style and adapting your system where needed, but firm fixed income flows are also supported:

• Resting Quote — place a firm Quote at a price level; update or cancel (set prices and sizes to zero) at any time; receive fills and execution reports. Indicative and subject Quotes are not supported.
• Aggressive Order — place an Order and receive fills and execution reports until filled or liquidity is exhausted.