Order Flow Process

1. Order Submission: Users submit their orders to the exchange node. If an order is not immediately filled or is only partially filled, it triggers the next steps of the process.

2. Broadcasting Partial Orders: The node broadcasts messages regarding the unfilled or partially filled orders to other exchange nodes across the network. This process is repeated for three rounds, aiming to find matching orders on different nodes.

3. Consolidation of Matched Results: After broadcasting, the exchange node consolidates the results of any matched orders from the network. It then communicates these results to a settlement server, which finalizes the transactions.

4. Order Book Maintenance: Any remaining unfilled orders are retained within the node's order book. These orders may be filled in subsequent matching rounds as new orders are submitted or as existing orders in the network change.

   

Like the typical limit order functionality, JayX will also offer flexible trading features, such as:

1. Partial filling

2. Conditional orders

3. Canceling a single order

4. Canceling multiple orders

5. Order verification

6. Margin order