Interpretation of Contract Type (3): Passive Delegate
GAEA Investment Research Center — Let’s continue talking about the type of delegate. Today’s dish is passive delegate. It may be unfamiliar to even senior player in capital market. Actually, you may not lack of knowledge in capital market, because it is a new kind of delegate. Currently, only small number of exchanges involve in it.
What is Passive Delegate?
Passive delegate is a kind of limit order, but different to common limit order, once passive delegate is asked by investors, servers will judge it in advance in order to know whether it will be successful under this price when investors ask which will extract market liquidity. If the above is true, this limit order will be canceled automatically, or it will be sent successfully otherwise.
You may have a question that is there any differences between common limit order and passive delegate? The biggest difference is that it is impossible for passive delegate investors to be takers, they are makers. You can gain commission once the order is done. This delegate is costumed for investors who strongly want commission. As for operation aspect, there is no difference to common limit orders. Choose “Passive delegate” in GAEA digital asset platform, you will get everything done by doing so.
For instance, we want to buy BTC at 7,000 and the current buying price is 6,999, if we make a limit order directly, it will be done immediately, in another case, if we choose passive delegate, the same order will be canceled. This order can never succeed until the price is above 7,000.
That is all for today, wish you all good in investment and have a good day!
Source Date: July 4, 2018
Learn more about GAEA’s Contract Descriptions:
Interpretation of Contract Type (1): FOK Commission
Interpretation of Contract Type (2): Iceberg Commission
Interpretation of Contract Type (4): Reduce-Only Commission
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