Order book

If this situation remains, due to an error or a condition of the market, the order book is said to be crossed.

In his work,[1] Jean-François Mertens extends this and constructs an order matching mechanism that works across specialists, where he can cross orders that are not only in terms of bid and offer for a given traded item, but bids and offer can be expressed as a linear function of other traded items.

The advent of retail trading software in the early 2000s enabled more complex charting options for what was previously numerical data.

[2] The first known mention of the orderbook supply and demand line plot, where x-axis being price, and y-axis being cumulative order depth, appears to be from an API webpage for the MtGox exchange around 2011.

[citation needed] The basic principle of the order book as used in financial securities, when used to gauge supply and demand, can also apply to the trade of other goods (for example e-commerce).

Order book depth chart on a currency exchange. The x-axis is the unit price, the y-axis is cumulative order depth. Bids (buyers) on the left, asks (sellers) on the right.