HybridBook

Equiduct HybridBook is a lit electronic order book where orders from participants compete seamlessly alongside firm, executable, two-sided quotes posted by Market Makers. 

It offers:

• Continuous-trading phase with Opening and Closing crosses
• Full pre and post trade transparency
• A range of European standard order types

Unique order book

Whilst this order book resembles many others in Europe, it also offers unique differences to improve execution functionality and to remove unnecessary costs from the trade process:

• An execution mechanism which automatically detects and preferentially matches buy and sell interest from the same member
• Home market default CCPs to leverage existing infrastructures: see our Clearing & Settlement page for more information. 

Order Types & Execution Conditions

• Lit order book order types: Market, Limit, Iceberg, Pegged, STOP Limit, STOP Loss
• Time in Force: GFD, GTC, GTD, GTT, GTS, ATC, ATO, FOK, IOC

For more information about the HybridBook, please see our Market Model document.