Trade Order Lifecycle
From order placement through risk, routing, fill, clearing and settlement.
Rendering…
Make it your own.
stateDiagram-v2
[*] --> New
New --> Risk_check
Risk_check --> Rejected: limit / margin breach
Risk_check --> Routed: pass
Routed --> Partial_fill: partial match
Routed --> Filled: fully matched
Partial_fill --> Filled: remaining matched
Partial_fill --> Cancelled: cancel rest
Routed --> Cancelled: cancel request
Filled --> Clearing
Clearing --> Settled: T+2
Settled --> [*]
Rejected --> [*]
Cancelled --> [*]