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What exactly is a resting limit order? I could not find a definition on Wikipedia or Google.

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closed as off-topic by Louis Marascio, Joshua Ulrich, olaker Oct 25 '13 at 20:07

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1 Answer

up vote 3 down vote accepted

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.

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