For some new market launching at Gate.io, Gate.io may hold a call auction to determine the pre-opening price.
How It Works:
1. Bidding phase 1: Ordering and cancelling
During this time period,users can place their ask/bid orders at their desired limit prices. They can also cancel their orders if they so choose.
2. Billing Phase II: Ordering but no cancellation
During this time period, users can still place their ask/bid orders, but cancellation is not allowed. Instead, users may allow to adjust their price unfavorably to them.
3. Settlement: The engine will calculate all the orders and find a single price at which the maximum trading volume will be achieved and settle the matching orders at this single price.
Those unfilled orders will display on public order book and enter into the following continuous trading.
未成交部分立即撤销 Unfilled portion cancels immediately