Supported Order Types

Order Type Description
Limit An order to buy or sell at a specific price or better.
Stop-Limit An order that combines the features of a stop order and a limit order. The stop price acts as a trigger to enter a limit order into the market.
Market With Protection A Market Order With Protection is an order to buy or sell a stated amount of an asset at the prevailing best price. Users do not need to set a limit price for their order, instead the system will attempt to fill the full order at the best available prices in the market.
Post Only A limit order which only enters the market if it will not immediately execute with another resting order in the order book.

Please see the Order Types page here for more information.

Supported Time in Force

Expiry Condition Description
Good Til Cancel (GTC) Orders with this expiry setting remain open and active until either executed or explicitly canceled by the client.
Good Til Date (GTD) The submitting client specifies the date at which an order is to be expired if not already executed.
Day Orders with this expiry type that have not been executed will be expired by the system at the end of the Cboe Digital session on which they were entered. The Spot market session is continuous and only finishes when a maintenance period takes place, thus, Spot orders entered with Time in Force = Session (Day)will remain active until a maintenance window takes place. The Futures market session elapses from 5pm CT to 4pm CT on the following day.
Fill or Kill (FOK) A “Fill or Kill” is an order that will either fill immediately the whole requested quantity when entering the orderbook, or it will be cancelled in its entirety.
Immediate or Cancel (IOC) An “Immediate or Cancel” order, when submitted, will immediately fill any portion of the order that is executable and cancel any remaining quantity. Similar to a Fill or Kill but an IOC can have partial fills.

Current Market Hours

Please see Central Limit Order Book hours here.

Trading Halts

Pursuant to Cboe Digital Exchange Rule 541, a market for a Contract will enter into a halt state for a period of time designated by the Exchange, during Trading Hours for the Contract, if a circuit breaker is triggered: the price of a bid (offer) in the Contract is higher (lower) than a percentage designated by the Exchange as compared to the highest (lowest) bid (offer) observed during the lookback window as designated by the Exchange.

  • Lookback Window – The window of time to compare a new order to the existing market.
  • Threshold Percentage – The percentage away from the highest (lowest) bid (offer) observed during the lookback window that a bid (offer) must reach to trigger a halt.
  • Halt Period – The time for which a given Contract will be halted until orders are accepted again.
Circuit Breaker Parameters
Lookback Window 1,000 ms (1 second)
Threshold Percentage 2.5%
Halt Period 10,000 ms (10 seconds)

Additionally, the Exchange may, in its discretion, temporarily halt trading in a Contract or modify the circuit breaker parameters, including the time of a halt state, to preserve market integrity in a Contract market.