Placing Orders

This guide covers the complete order entry workflow on AEX.

The Order Ticket

The Order Ticket is your primary interface for submitting orders. You can open it by:

• Clicking a price in the Price Grid
• Using the keyboard shortcut (see Keyboard Shortcuts)
• Opening it from the workspace menu

Required fields

Field	Description	Valid values
Node	Grid exit point (GXP)	OTA, BEN, HAY, etc.
Profile	Load profile	BASE, PEAK, ON, OFF, etc.
Duration	Contract tenor	Monthly (e.g., Apr-26) or Quarterly (e.g., Q2-26)
Contract Code	Specific delivery period	Auto-populated from Duration selection
Side	Direction	Buy or Sell
Price	Price per MWh in NZD	Positive number, tick-size increments
Volume	Number of lots	Positive integer
Held	Hold order for manual release	On or Off

Order validation

Before an order reaches the matching engine, AEX validates:

1. Credit check — sufficient credit allocation for the order's potential exposure
2. Price reasonableness — price falls within configured bounds
3. Quantity limits — quantity does not exceed position limits
4. Session state — the market is accepting orders

If validation fails, the order is rejected and an error message explains the reason. See Error Codes for details.

Order lifecycle

Modifying orders

AEX supports in-place order modification. To modify a working order:

1. Select the order you want to change — the Order Ticket switches to edit mode
2. Adjust the price or volume as needed
3. Click Modify to submit the amendment

In edit mode, the Order Ticket displays a Cancel Edit button so you can abandon changes and return to normal order entry.

tip

In-place modification preserves your queue position when only the volume decreases. Price changes or volume increases place the amended order at the back of the queue.