Order Entry

The Order Entry module lets you submit orders through the Sequence Smart Order Router directly from the Terminal. It supports market and limit orders with fee-aware balance calculations and multiple routing options.

Order Types

Market Order

Executes immediately at the best available price across connected venues. The SOR finds the optimal venue (or split across venues) based on current order book depth and fees.

Market orders support both base-denominated and quote-denominated input modes. Toggle between them using the asset switcher next to the quantity label.

Limit Order

Executes at the specified price or better. Enter a limit price in the dedicated field. The Terminal shows a warning if your price is more than 5% away from the current market price.

Limit orders are always entered in base-denominated quantities.

Side Selection

Toggle between Buy and Sell at the top of the panel. The button highlights green for Buy and red for Sell. Switching sides clears the quantity field and recalculates available balance based on the relevant asset.

Quantity Input

Base Mode

Enter the quantity in the base asset (e.g., 0.5 BTC for a BTC-USD order). The estimated notional value in the quote currency is displayed below.

Quote Mode (Market Orders Only)

Enter the amount in the quote currency (e.g., $5,000 USD). The Terminal calculates the equivalent base quantity using the current best ask (for buys) or best bid (for sells). The converted base quantity is shown as a reference below the input.

Quick Balance Buttons

Four percentage buttons let you quickly fill the quantity field:

Fee-Aware Balance Calculation

For buy orders, the available balance accounts for:

• Worst-case taker fee across connected venues
• A 2% fee buffer (matching the SOR's internal FEE_BUFFER)

For sell orders, a 0.5% rounding margin is applied to prevent dust-amount rejections.

When routing to a specific venue, the fee calculation uses that venue's actual taker fee instead of the worst-case across all venues.

Routing

The routing dropdown controls where your order is executed:

Time-in-Force

Select how long the order remains active:

GTC is the default. IOC and FOK are useful for avoiding partial fills.

Order Confirmation

Before submitting, the panel displays:

• Estimated Value (base mode) or Base Qty (quote mode) -- the expected notional
• Available Balance -- your effective tradeable balance on the selected venue(s)
• Warnings -- price deviation alerts, paper trading mode indicator
• Errors -- insufficient balance, invalid quantity

The submit button shows the action clearly (e.g., "Buy BTC" or "Sell ETH") and is disabled when validation errors are present. After successful submission, the quantity fields clear and a notification shows the parent order ID.

Real-Time Price Updates

The Order Entry panel subscribes to BBO data for the selected symbol. The current mid-price is displayed in the header and updates in real-time. Limit price placeholders show the current market price. Balance calculations refresh whenever BBO data or balances change.