State | Accepted Orders | Order Matching |
|---|---|---|
Closed | No orders are accepted. | No order matching, no trades occur. |
Pre-open | No unpriced (market) orders are accepted. | No order matching, no trades occur. Orders on opposite sides may cross. |
Pre-open No Cancel | No unpriced (market) orders are accepted. Cannot cancel orders. | No order matching, no trades occur. Orders on opposite sides may cross. |
Open | All supported orders are accepted. | Regular price-time priority matching. |
Halt | All supported orders are accepted. | No order matching, no trades occur. |
Pause | No orders are accepted. Order cancellation is allowed. | No order matching, no trades occur. |