1. Instructions on Following a “Maker”
Following a maker is to place a limit order to sell or to buy according to the selected price and amount in the order book (or a set asset ratio).

For example, the Buy 1 price in BTC buy orders is 9650.17 with an amount of 0.01. If you click on the button of “follow the maker,” the system will place a limit order to buy 0.01 BTC at the price of 9650.17. It works the same for limit orders to sell.

The function works best for quickly placing limit orders to sell or to buy by closely following top bids and asks.

2. Instructions on “Taker”
Taker denotes the operation of placing an IOC order (fill or kill) according to the selected maker price and the total amount of all the orders from Buy 1/Sell 1 to the selected order in the order book (or a set asset ratio).

For example, the 5th price in BTC sell orders is 9647.10 with a quantity of 0.3. If you click on the “taker” button, the system will place an IOC order to buy 1.94 (the total amount from Buy 1 to Buy 5) at a price of 9647.10. It works the same for orders to sell.

The function works best for quickly buying/selling digital assets.

3. Difference between placing orders by setting assets ratio and placing orders by selecting amount from the order book

In the functions of taker and following the maker, there are two ways of placing orders: “setting asset ratio” and “selecting amount from the order book.” The default method is placing orders by selecting amount from the order book. Below is an overview of the two methods.

By setting asset ratio, the system will place an order according to the selected price in the order book and a specific asset ratio;
By selecting amount from the order book, the system will place an order according to the selected price and the amount (or total amount) in the order book.

When the user follows a maker, limit orders will be placed with both methods.
By setting asset ratio, the order will not fail as long as the assets are larger than 0 and the order amount exceeds the minimum amount required;
By selecting amount from the order book, the order may fail if the balance is smaller than the selected order amount.

As to taker, IOC orders will be placed with both methods.
By setting asset ratio, the order may be partially filled or partially withdrawn if the amount represented by asset ratio is larger than the total amount selected in the order book;
By selecting amount from the order book, the order will be immediately filled if the available assets in the account are larger than the total amount selected in the order book.

Click here for detailed information on IOC orders.

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HTX
September 19, 2019