Details of how each order type works

T

Trader_Herry

I see there are many order tpyes:
http://www.interactivebrokers.com/en/trading/orderTypesMatrix.php?ib_entity=llc#auction

Actually how each order type works?

I know the meaning of each order type. This is not what I'm asking.
What I would like to know is how each order type works exactly when it is sent to the market, including the priority of execution, how they are processed/executed and so on.

Is there any page or website which explains all these things?

Thanks!
 
I think you will find that limit orders for example are not processesed in exactly the same way on different exchanges eg some may honour first come first served, some may give some priority to size in the queue. You need to research the particular exchange if the IB order type is native.
 
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