orderboken
Orderboken, or the order book, is a real-time electronic register of outstanding buy and sell orders for a security or instrument on an exchange. It is organized by price level and displays the quantities available at each price on both sides of the market (bids and asks). The top row shows the best bid and best ask, together forming the current bid-ask spread. The deeper levels show additional price points and the aggregate depth or the size of available liquidity at those prices. The order book is central to price discovery and liquidity provision, as it reveals supply and demand at different prices and how much can be traded at each level.
Orders enter the book as limit orders or cancel existing ones as market orders are executed. Market
Not all orders are visible; some venues use dark pools or hidden orders. Traders use order book