Exchange Order Filters for Price, Quantity, Notional, and Account Limits
Summary
This reference explains exchange rules that determine whether orders are accepted. Symbol-level checks cover valid price ranges and increments, quantity bounds and steps, notional value limits, iceberg order parts, trailing-stop parameters, and caps on open orders or positions. Market orders may use a reference price or a recent average trade price when a price is needed for validation.
It also describes exchange-wide order caps and an asset-level limit that applies to either base-asset quantity or quote-asset notional value. The examples show the filter names and fields returned by exchange information endpoints, making the material useful for implementing pre-trade validation. These are operational constraints rather than a trading strategy, and filter values vary by market and can change; the reference does not assess execution quality or profitability.
Key ideas
- Order prices must satisfy applicable minimums, maximums, and tick increments.
- Quantity and notional filters impose bounds that may differ for market orders.
- Exchanges can cap open orders, algorithmic orders, iceberg orders, and order lists.
- A position limit can include available and locked base-asset balances plus open buy quantities.
- Asset-level limits may apply to order quantity or notional value depending on the asset's role.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.