closed as off-topic by Louis Marascio, Joshua Ulrich, olaker♦ Oct 25 '13 at 20:07
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Basic financial questions are off-topic as they are assumed to be common knowledge for those studying or working in the field of quantitative finance." – Louis Marascio, Joshua Ulrich, olaker
An un-marketable limit order (buy limit price is < lowest offer, sell limit price is > highest bid) that has a time in force allowing it to be placed onto a matching engine's limit order book. It is said to "rest" on the book. If the time in force is Immediate or Cancel and the order is unmarketable, it is canceled back to the participant unfilled.