A Limit Order is an Order with a condition to buy or sell a specified quantity of an Asset at a specified price.
A Limit Order will only Fill at the specified price or a price better than the specified price based on price optimization algorithms. Any quantity that is not Filled rests on the continuous Order Book until it is Filled or cancelled.
Limit Orders may be placed with one of the following Time in Force Instructions:
Good Till Cancelled (GTC): The Order will stay on the Order Book until it is completely Filled or until manually cancelled by the Customer.
Immediate Or Cancel (IOC): The Order will only be placed on the Order Book if it would be immediately Filled and any remaining quantity that has not been Filled is cancelled.
Fill Or Kill (FOK): The Order will only be placed on the Order Book if it would be immediately and completely Filled. If it is only partially Filled, the Order will not be placed on the Order Book.