Your First Trade
This walkthrough guides you through placing your first order on AEX.
Before you begin
Ensure that:
- You are signed in to the trading terminal
- The market session is in Open or Pre-Open state
- Your entity has sufficient credit allocation
Step 1: Select a contract
In the Price Grid, locate the product and contract you want to trade.
Products are organised by GXP (OTA or BEN) and profile (BASE, PEAK, ON, EP, MP). Contracts are listed by expiry — monthly (e.g., Apr-26) or quarterly (e.g., Q2-26).
Click on a bid or ask price to pre-populate the Order Ticket.
Step 2: Enter order details
The Order Ticket displays:
| Field | Description |
|---|---|
| Product | The GXP and profile (e.g., OTA BASE) |
| Contract | The delivery period (e.g., Apr-26) |
| Side | Buy or Sell |
| Price | The price in NZD/MWh |
| Quantity | Number of lots |
| Order Type | Limit, Market, or other available types |
| Time in Force | How long the order remains active (Day, GTC, IOC, FOK) |
tip
Clicking a bid price pre-fills a sell order at that price. Clicking an ask price pre-fills a buy order.
Step 3: Review and submit
- Verify all order details in the Order Ticket
- Click Submit Order
- A confirmation dialogue will display the order summary
- Click Confirm to send the order to the market
Step 4: Monitor your order
After submission:
- Your order appears in the Order List pane with status Active
- If the order matches immediately, it appears in the Fill List
- The Event Log shows real-time updates for your orders
Order statuses
| Status | Meaning |
|---|---|
| Active | Order is live in the order book |
| Filled | Order has been fully matched |
| Partially Filled | Some quantity matched, remainder still active |
| Cancelled | Order was cancelled by you or the system |
| Rejected | Order failed validation (e.g., insufficient credit) |
Cancelling an order
To cancel an active order:
- Find the order in the Order List
- Click the cancel button on the order row
- The order status changes to Cancelled
caution
Filled orders cannot be cancelled. Once matched, trades are final and proceed to settlement.
Next steps
- Learn about all order types
- Understand the order book in depth
- Explore market data features