Placing a Trade on the Orbita Notes Trading Platform: A Step-by-Step Guide
1. Selecting the Market: Primary vs. Secondary Trading
Before placing a trade, participants must decide whether they are engaging in the primary or secondary market. The platform clearly distinguishes between these two modes to align with the issuance phase and liquidity needs.
- Primary Market:
During new Orbita Notes issuances, participants can place subscription orders to secure notes at the initial offering price. This ensures access to newly issued credit-backed instruments such as BTA1. - Secondary Market:
For existing Orbita Notes, participants can trade on platforms such as Stellarterm or, once launched, the Orbita Notes Trading Platform. Secondary market trades allow users to buy and sell notes based on current market conditions.
2. Choosing the Right Order Type
Participants can place a variety of order types, each tailored to specific trading strategies and market conditions. Understanding these options ensures that trades align with investment goals.
- Market Orders:
Executes immediately at the best available price, suitable for participants who prioritize speed. - Limit Orders:
Allows participants to set a maximum or minimum price at which they are willing to trade. The order will only be executed if the market reaches the specified price. - Stop Orders:
Executes only when a certain price is reached, helping participants automate their trading strategies. - Fill-or-Kill (FOK) Orders:
Executes in full or cancels immediately, ensuring no partial trades. - Good-till-Canceled (GTC) Orders:
Remains active until manually canceled or executed, providing flexibility for long-term strategies.
3. Entering Trade Details
Once participants have selected the order type, they must enter the specific trade parameters. The platform’s intuitive interface makes it easy to input the necessary details for each trade.
- Selecting the Orbita Note:
Choose from the available Orbita Notes, such as BTA1, BTA2, or BTA3 (pending issuance). - Setting Quantity:
Enter the number of units to buy or sell, ensuring alignment with investment goals and liquidity needs. - Price (for Limit Orders):
Specify the price at which the trade should be executed for limit orders. - Order Expiration (for GTC Orders):
Set an expiration date if applicable, or leave it open-ended.
4. Confirming the Trade
Before submitting the trade, participants will have the opportunity to review the order details. The platform provides a summary, including the chosen Orbita Note, quantity, price, and estimated transaction fees.
- Reviewing Estimated Fees:
View applicable trading fees and other costs to ensure transparency. - Real-Time Market Data:
The platform displays real-time pricing information to help participants verify their trade against market conditions. - Compliance Check:
The platform ensures all orders align with compliance requirements, providing alerts if adjustments are needed.
5. Submitting the Trade
After confirming the trade details, participants can submit the order for processing. The platform instantly forwards the order to the Order Matching System for execution.
- Order Execution:
Market orders execute immediately, while limit orders and other conditional orders are matched based on the selected parameters. - Real-Time Order Book Updates:
Once submitted, the trade will appear in the live order book, contributing to market depth and liquidity. - Trade Confirmation:
Participants receive instant notifications confirming the trade execution, including the final price and quantity traded.
6. Monitoring and Managing Open Orders
Participants can monitor their open orders directly from the Order Management Dashboard. The platform allows users to modify or cancel orders as needed before they are executed.
- Modifying Open Orders:
Adjust price or quantity for open limit orders if market conditions change. - Cancelling Orders:
Cancel open orders directly from the dashboard without incurring penalties. - Order Status Tracking:
Track order progress with status updates (e.g., open, partially filled, executed, or canceled).
7. Settlement and Trade Confirmation
Once the trade is executed, the platform processes the settlement in line with the applicable market standards. Settlements on third-party platforms like Stellarterm may follow slightly different timelines, but all transactions adhere to the principles of the C2C Monetary System.
- Instant Trade Confirmation:
Participants receive a detailed confirmation of the executed trade, including the final price, fees, and order ID. - Settlement Timelines:
Trades are typically settled within industry-standard timeframes, ensuring efficient transfers of ownership and funds. - Record Keeping and Audit Trails:
All trades are logged with a comprehensive audit trail for compliance and reporting purposes.
8. Risk Management Tools
The platform integrates risk management tools to help participants manage exposure and optimize their trading strategies.
- Stop-Loss Orders:
Protect against market volatility by triggering trades automatically at predefined price levels. - Position Limits:
Monitor and limit exposure to individual notes, ensuring portfolio diversification. - Circuit Breakers:
Automatically halt trading if extreme price movements occur, protecting participants from market shocks.
9. Trading on Third-Party Platforms (e.g., Stellarterm)
While the dedicated Orbita Notes Trading Platform is under development, participants can trade Orbita Notes such as BTA1 on Stellarterm and other third-party platforms.
- Interim Access to Liquidity:
Participants can buy and sell Orbita Notes on these platforms, ensuring continuous market access. - Integration with Future Platforms:
Orders placed on interim platforms will seamlessly transition to the new Orbita Notes Trading Platform once it is launched.
- Conclusion
Placing a trade on the Orbita Notes Trading Platform offers participants a seamless, transparent, and secure trading experience. From selecting the right order type to managing open orders and tracking settlements, the platform ensures efficiency and compliance at every step. With integrated risk management tools, access to both primary and secondary markets, and support for complex order types, the platform empowers participants to trade confidently and strategically.
While the dedicated trading platform is still under development, participants can access BTA1 and other Orbita Notes through third-party platforms such as Stellarterm. As the marketplace expands, the trading process will become even more streamlined, offering enhanced liquidity, transparency, and growth opportunities for participants in the credit-backed financial ecosystem.