Maker Only box (check/uncheck)
- User has the ability to tick the Maker Only box to prevent the entry of any orders that would cross the market and execute as a “Taker” order. This can be useful in a few ways including:
- Trading strategies as a market maker.
- Trading in fast markets to avoid unintentionally crossing the market with a taker order which was intended to be a maker order.
Order Types: GTC, IOC, FOK orders
- Good till Canceled (GTC) orders last until the order is filled or cancelled.
- Immediate or Cancel (IOC) orders attempt to execute immediately the order, filling any quantity available at the order price, and then cancels any unfilled portion of the order.
- Fill or Kill (FOK) orders attempt to execute immediately the order’s full size. If the full size is not executable at the time and price of the order, the order is cancelled and no quantity of the order is filled.
Deliver (in the ‘Positions’ tab)
- A user can opt for delivery of the deliverable perpetual future at any time by clicking “Deliver” in the positions window. This means that the perpetual future contract will settle into a spot cryptocurrency position. The user must fully fund any position he or she wishes to take to delivery (i.e. no leverage can be used when taking delivery).
- Delivery occurs via the mechanisms relating to the Repo markets and the once-daily auction at 12:00 UTC.
- If delivery is selected and there is some quantity queued for delivery on the opposite side of this delivery, both sides of the trade will deliver immediately and these balances will be reflected into the account immediately.
- If there is a quantity imbalance on either side, it will be settled into the Repo market at the time of the auction.
- Alternatively, instead of waiting for the daily auction, a user can also opt to trade directly into the Repo market of the asset, which allows the user to physically deliver the perpetual future position by trading directly in the market.
- Auction delivery failure can happen if the Repo book does not have enough orders to fulfill the request.
- More information on the auction and funding mechanisms can be found here. https://coinflex.com/support/funding-auction/