Local Exchanges and the Order Book

What it is and why it matters

Each station has its own exchange book. The bid shows who is ready to buy and how much. The ask shows who is offering to sell and how much. The same ore can cost different amounts at different stations. The depth of the order book is the available order volume, not an infinite stock. Partial fills are allowed.

The order book holds orders from players, captains, trading houses, and port authorities. The deputy can tell you who is in the book and show up to eight price levels per side. The identifiers of other parties' orders are not disclosed.

Getting started

1. Choose a station.
2. Choose a commodity.
3. Look at the best bid and ask and their volumes.
4. Work out the quantity.
5. Buy or sell at the available levels, or leave a limit order.
6. Check the fill log and the remainder.

Example

"Show me the current order book for Titanium Ore at Vega, including the best price and total demand volume."

In the starting world on November 6, the Vega Station authority was buying titanium at 36 for 160 units and selling at 44 for 20 units. The spread was 8 credits. Prices change.

Limitations and risks

A trade goes through at the best price, and within one price level, in order of arrival. A market order walks through the levels of the order book, so a large purchase may end up costing more than the best ask. Port authorities refresh their orders once every 24 game hours, but their warehouses and money are finite.

Common mistakes

• Treating the best bid as a guarantee that any volume will sell.
• Treating a quote as a counterparty's reservation. While you are in flight, someone else may take the order.

What's next

Read about limit orders, trading between companies, and liquidity.